The Securities Regulatory Commission issued the “Implementation Measures for the Supervision and Administration of the Securities and Futures Market” on December 31. This is an important step for the Securities Regulatory Commission to further standardize its own enforcement procedures and protect the legitimate rights and interests of administrative counterparties. The main contents include: first, the implementing agency shall “leave a mark” on the evidence, decision, delivery, etc. of the supervisory measures in accordance with the law; second, where the supervisory measures require on-site enforcement, they should be carried out by law enforcement personnel with administrative enforcement qualifications, with no less than two law enforcement personnel; third, if the offense has not been discovered within two years, the implementing agency generally no longer takes supervisory measures on the illegal act, except where the law, administrative regulations, or the rules of the China Securities Regulatory Commission stipulate otherwise or the effects of the illegal act have not been eliminated; fourth, the staff involved in implementing the supervisory measures have a direct interest in the parties concerned, or have other Where relationships may affect fair enforcement, they should be avoided; fifth, implementing supervisory measures should investigate facts and comprehensively gather relevant evidence; sixth, implementing supervisory measures should carry out a legal review.

The Securities Regulatory Commission issued the “Implementation Measures for the Supervision and Administration of the Securities and Futures Market” on December 31. This is an important step for the Securities Regulatory Commission to further standardize its own enforcement procedures and protect the legitimate rights and interests of administrative counterparties. The main contents include: first, the implementing agency shall “leave a mark” on the evidence, decision, delivery, etc. of the supervisory measures in accordance with the law; second, where the supervisory measures require on-site enforcement, they should be carried out by law enforcement personnel with administrative enforcement qualifications, with no less than two law enforcement personnel; third, if the offense has not been discovered within two years, the implementing agency generally no longer takes supervisory measures on the illegal act, except where the law, administrative regulations, or the rules of the China Securities Regulatory Commission stipulate otherwise or the effects of the illegal act have not been eliminated; fourth, the staff involved in implementing the supervisory measures have a direct interest in the parties concerned, or have other Where relationships may affect fair enforcement, they should be avoided; fifth, implementing supervisory measures should investigate facts and comprehensively gather relevant evidence; sixth, implementing supervisory measures should carry out a legal review.