Forum for Securities Fraud Disputes and Investor Protection under Securities Issuance Registration System Held in Beijing
Recently, the “Forum for Securities Fraud Disputes and Investor Protection under Securities Issuance Registration System” has been held at the China World Hotel (Beijing), a Shangri-La hotel. The event was co-organized by ZhongYin Law Firm, ZhongYin Capital Market Dispute Resolution Research Center, and ZhongYin National Marketing Committee. The event attracted the attention of elites from the securities industry, dispute resolution institutions, listed companies, institutional investors, accounting firms, law firms, and so on, who attended the event to jointly discuss the new changes brought by the new Securities Law to the securities industry.
At the event, Zhang Xiaowei, Vice President of the Beijing Lawyers Association, and Zhai Jingmin, President of the Beijing Association for Alternative Dispute Resolution, delivered speeches successively, affirming the significance of this event in the context of the securities issuance registration system, and wishing the event a success. Subsequently, four guests, namely Liu Jipeng, Dean, Professor, and Ph.D. Mentor of the Business School of China University of Political Science and Law, Wang Shiyu, Senior Investment Banker, Wu Zetao, Member of the Management Committee and Director of the Capital Market Dispute Resolution Research Center of ZhongYin Law Firm, and Cheng Xiaoming, Securities Market Expert, delivered wonderful keynote speeches from four perspectives: the underlying structure of China's capital market, economic prospects in the era of digital economy, securities representative action on disputes and legal affairs, and investor protection in the era of registration system.
Liu Jipeng, Dean, Professor, and Ph.D. Mentor of the Business School of China University of Political Science and Law, proposed that: firstly, direct financing should be vigorously developed to accelerate financial disintermediation; secondly, the administration focus in the financial sector should be shifted from investors to financiers, and the regulation by the judicial authority on the financial sector should be strengthened, so as to promote the transformation of China's financial market from monetary finance to capital finance.
Senior Investment Banker Wang Shiyu said, we are now in the era of digital economy, which entails major changes in the layout of listed companies, so investors should focus on artificial intelligence and other rising industries in the next step.
Wu Zetao, Member of the Management Committee and Director of the Capital Market Dispute Resolution Research Center of ZhongYin Law Firm, pointed out three highlights of the new Securities Law: comprehensive implementation of the securities issuance registration system; improvement of the investor protection mechanism, especially the system of securities representative action on disputes; further reinforcement of information disclosure requirements. With the changes brought by the new Securities Law, lawyers will play a greater role in dispute resolution in the capital market.
By comparing China’s NEEQ with the US’s NASDAQ, securities market expert Cheng Xiaoming analyzed how to promote the development of China’s high-tech industries by: firstly, increasing the listing rate in high-tech industries; secondly, reducing the listing requirements for high-tech industries; thirdly, shifting the administration focus from “listing” to “delisting” by increasing the delisting rate, so as to force high-tech companies to strengthen innovation.
In the roundtable forum, Li Jingping, former Senior Judge and Arbitrator of the Supreme People’s Court, Wu Yan, Vice President and Chief Risk Officer of Xinhu Wealth Management and Investment Co., Ltd., Zhang Kaiyan, Secretary of the Board of Directors of Shengda Resources Co., Ltd. (000603), Chu Zhanzhi, Executive Director and Sponsor Representative of Investment Banking Head Office of Pacific Securities Co., Ltd., and Wang Jia, Partner of KPMG China, participated in a roundtable dialogue on the theme of “Hot Issues concerning Information Disclosure Compliance and Dispute Resolution Mechanisms in Securities Market”. The guests attending the forum included information disclosure obligors, intermediaries, investment managers, judges & arbitrators, and so on. They comprehensively analyzed and interpreted the occurrence of and changes in information disclosure, and the choice of method of resolving securities fraud disputes after they arise in the era of the new Securities Law.
After the roundtable forum, the representatives of the guests present jointly unveiled the official launch of Wu Zetao’s new book: Dispute Resolution in China's Capital Market: Frontier Issues and Legal Practice. Zhang Wen, Senior Editor of LAW PRESS·CHINA, and Han Wensheng, Secretary of the Party Committee and Professor of the School of Juris Master in China University of Political Science and Law, gave wonderful comments on the book. Wang Shiyu, Cheng Xiaoming, Han Wensheng, Zhang Wen, Li Da, Chen Yongxue, Wu Zetao and others participated in the unveiling ceremony for the new book.