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Jiangsu Shentong: Carry out a series of activities to publicize the knowledge of the National Constitution Day and the National Legal Publicity Day (excerpt from the Securities Law)
Release time:
2014-12-08
Jiangsu Shentong: Launching a Series of Publicity Knowledge Contents of National Constitution Day and National Legal Publicity Day
-- Excerpts from the the People's Republic of China Securities Act (2013 Amendment)
Chapter III Securities Trading
Section IV Prohibited Transactions
Article 73 [Prohibition of Insider Trading] Prohibiting insiders of securities trading and those who illegally obtain insider information from using insider information to engage in securities trading activities.
Article 74 [Insiders] Insiders of inside information on securities trading include:
(I) directors, supervisors and senior managers of the issuer;
(II) shareholders holding more than 5% shares of the company and their directors, supervisors and senior managers, the actual controller of the company and its directors, supervisors and senior managers;
The company controlled by the (III) issuer and its directors, supervisors and senior managers;
(IV) who have access to insider information about the Company by virtue of their position in the Company;
(V) the staff of the securities regulatory body and other personnel who manage the issuance and trading of securities due to their statutory duties;
Relevant personnel of (VI) sponsors, underwriting securities companies, stock exchanges, securities registration and settlement institutions, and securities service institutions;
(VII) other persons as prescribed by the securities regulatory authority under the State Council.
Article 75 [Inside Information] In securities trading activities, information that has not yet been made public that involves the company's operations, finances or has a significant impact on the market price of the company's securities is inside information.
The following information is insider information:
(I) the major events listed in paragraph 2 of Article 67 of this Law;
(II) the company's plan to distribute dividends or increase capital;
significant changes in the shareholding structure of (III) companies;
(IV) material changes to the Company's debt guarantees;
(V) the mortgage, sale or scrapping of the company's main assets for business use exceeds the 30% of the assets at one time;
The directors, supervisors and senior managers of the (VI) company may be liable for major damages in accordance with the law;
relevant plans for the acquisition of (VII) listed companies;
(VIII) other important information determined by the securities regulatory authority under the State Council to have a significant impact on the trading price of securities.
Article 76 [Prohibition of Use of Insider Information] Insiders of insider information on securities trading and persons who illegally obtain insider information shall not buy or sell the securities of the company, or disclose such information, or advise others to buy or sell such securities before the insider information is made public.
Where this Law provides otherwise for the acquisition of shares of a listed company by natural persons, legal persons or other organizations that hold or jointly hold more than 5% of the shares of the company with others through agreements or other arrangements, the provisions of this Law shall apply.
If insider trading causes losses to investors, the perpetrator shall be liable for compensation in accordance with the law.
Article 77 [Prohibition of Manipulation of the Securities Market] Any person shall be prohibited from manipulating the securities market by any of the following means:
(I), either alone or through conspiracy, pooling capital advantage, shareholding advantage or taking advantage of information advantage to jointly or continuously buy and sell, and manipulating the price or volume of securities transactions;
(II) colluding with others to trade securities with each other at a time, price and in a manner agreed in advance to affect the price or volume of securities trading;
(III) conduct securities transactions between accounts under their actual control, affecting the price or volume of securities transactions;
(IV) manipulate the securities market by other means.
If the manipulation of the securities market causes losses to investors, the perpetrator shall be liable for compensation in accordance with the law.
Article 78 [Prohibition of Fabricating and Dissemination of False Information] State officials, media practitioners and relevant personnel are prohibited from fabricating and disseminating false information to disrupt the securities market.
Stock exchanges, securities companies, securities registration and settlement institutions, securities service institutions and their employees, securities industry associations, securities regulatory institutions and their staff are prohibited from making false statements or misleading information in securities trading activities.
The dissemination of securities market information by various media must be true and objective, and misleading is prohibited.
Article 79 [Prohibition of Fraudulent Acts] Securities companies and their employees are prohibited from engaging in the following fraudulent acts that harm the interests of their clients:
(I) buy or sell securities for clients against their entrustment;
The (II) does not provide written confirmation of the transaction to the customer within the specified time;
The (III) misappropriates the securities entrusted by the client or the funds in the client's account;
A (IV) buys or sells securities for a client without the client's entrustment, or buys or sells securities in the client's name;
(V) induce clients to engage in unnecessary securities trading in order to earn commission income;
(VI) use of the media or other means to provide or disseminate false or misleading information to investors;
(VII) other acts that violate the true intention of the customer and harm the interests of the customer.
If the customer fraud causes losses to the customer, the perpetrator shall be liable for compensation in accordance with the law.
Article 80 [Prohibition of Legal Persons Engaging in Securities Trading] Legal persons are prohibited from illegally using the accounts of others to engage in securities trading; legal persons are prohibited from lending their own or others' securities accounts.
Article 81 [Prohibition of Illegal Funds Entering the Market] Broaden the channels for funds to enter the market in accordance with the law, and prohibit the illegal inflow of funds into the stock market.
Article 82 [Prohibition of Misappropriation of Public Funds to Buy and Sell Securities] It is prohibited for any person to misappropriate public funds to buy and sell securities.
Article 83 [Trading of stocks by state-owned or state-controlled enterprises] State-owned enterprises and state-owned asset-controlled enterprises must abide by the relevant provisions of the State when buying and selling listed stocks.
Article 84 [Reporting Prohibited Trading Acts] Stock exchanges, securities companies, securities registration and settlement institutions, securities service institutions and their employees shall promptly report prohibited trading acts discovered in securities trading to the securities regulatory authority.
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