[ad_1]
Original title: Regulators will take multiple steps to consolidate the responsibilities of bond market intermediaries and allow “gatekeepers” to work
Summary
[Los supervisores tomarán múltiples medidas para consolidar las responsabilidades de los intermediarios del mercado de bonos y permitir que los “guardianes” desempeñen un papel]The reporter learned from relevant people close to the supervisory level that the China Securities Regulatory Commission will follow the requirements of “establishing a system, non-intervention and zero tolerance.” Improve the system, promote classified supervision and increase the cost of illegal intermediary agencies, further strengthen the supervision of intermediary agencies, continue to urge intermediary agencies to return to their positions, strengthen prevention and control of the risks of source and protect the legitimate rights and interests of bond market investors. (Shanghai Stock News)
According to news from the Chinese government website, on the 21st, the financial stability and development of the State CouncilCommittee(Hereinafter, the “Financial Commission”) held the 43rd meetingmeeting, Research SpecificationsLinkmarketDevelopment and maintenanceBond marketstablejobs. The meeting raised five requirements for the effective performance of supervision and territorial responsibilities, “zero tolerance” to combat violations of laws and regulations, maintain fairness and order in the bond market, strengthen self-discipline and supervision of the industry, strengthen departmental collaboration, deepen bond market reform, and establish and improve market systems.
The reporter learned from relevant people close to the supervisory level that the China Securities Regulatory Commission will further strengthen intermediary agencies in accordance with the requirements of “system building, non-intervention and zero tolerance”, improving the system, promoting the classified supervision and increasing the cost of intermediary agencies that violate laws and regulations. Supervision, continue to urge intermediary agencies to return to their positions, strengthen prevention and control of source risks, and protect the legitimate rights and interests of bond market investors.
The Finance Committee meeting noted that INational debtThe reform and opening of the stock market continue to deepen, servingReal economyFeatures continue to improve and the overall market is running steadily. The recent increase in default cases is the result of the overlap of cyclical, institutional and behavioral factors. We must adhere to the general tone of the work of seeking progress while maintaining stability and in accordance with the principles of commercialization, rule of law and internationalization, manage the relationship between promoting development and preventing risks, and promoting the sustainable and healthy development of the market of bonds.
The meeting noted that strengthen industry self-discipline and supervision, strengthen market restriction mechanisms, and issue bondscompanyYshareholder, Financial institutions, intermediaries, etc.Market playersYou must strictly observe the laws and regulations andMarket rulesComply with professional ethics, diligence, due diligence, honesty and reliability, and effectively prevent moral hazards.
In this regard, Professor Li Youxing from Zhejiang University Law School said that intermediary agencies are diligent, responsible, honest and trustworthy, they must maintain a good bond market.creditThe basis of ecology is also the guarantee for the high-quality development of the bond market, and multiple measures must be taken to consolidate the responsibilities of intermediary bodies and give full play to the role of guardians.
Various intermediaries are important participants in capital market investment and financing activities. According to professionals, in the bond market, intermediaries provide bond underwriting, due diligence and verification through diligent, prudent and professional inspections.audit,legal,Credit ratingProvide professional services such as improving the quality of information disclosure, preventing various bond frauds, fully exploiting the role of direct financing in the bond market to allocate resources, and protecting the legitimate rights and interests of bond issuers and investors. In recent years, with the increase in the degree of marketization of the bond market,Rigid paymentGradually, the gatekeeper role of intermediary agencies in the bond market has become more prominent.
The reporter learned from relevant people close to the level of supervision that in recent years, the China Securities Regulatory Commission has continuously strengthened the construction of the bond market infrastructure and strengthened the supervision of intermediary agencies. On-site inspections, especially in the elimination of relevant risks of default of the bonds, some intermediaries wereCompliance management, There are still deficiencies in the performance of due diligence and risk prevention and control. For example, in the underwriting process, there are issues like heavy hiring, light commitment, and insufficient due diligence; In terms of entrusted management, there are problems such as inactive performance of duties and lack of supervision of the timely disclosure of information by the issuer; fraudulent issuance, Disclosure of information and fraud and other serious violations of laws and regulations, relevant underwriting agencies,accountingNeither the consulting firm nor the rating agency has been diligent and responsible for the timely discovery.
It is reported that in the next step, the China Securities Regulatory Commission will further strengthen the supervision of intermediary bodies in accordance with the “establishment of a system, non-intervention and zero tolerance” requirements, continue to urge intermediary bodies to return to their positions, focus on strengthening the prevention and control of source risks and effectively protect the rights and legitimate interests of investors.
The supervisory authority will begin to work in three areas:
One is to improve the system and clarify morethe companyDue diligence of the bond underwriting business,droughtRequirement to improve the system of rules of practice for intermediary agencies.
The second is to promote classified supervision, insist on supporting the advantages and limit the disadvantages, and monitor the compliance of intermediary agencies to conduct business and gradually reduceExternal ratingThe unit promotes the formation of a governance constraint mechanism with clear responsibilities, equivalent sanctions, and symmetrical rights and responsibilities.
The third is to increase the cost of violations of laws and regulations by intermediary agencies, further strengthen daily supervision and on-site inspections, and strengthen the accountability of agencies and staff that violate regulations.
(Source: Shanghai Securities News)
(Responsible editor: DF506)
I solemnly declare: The purpose of this information is to spread more information, and it has nothing to do with this booth.
[ad_2]