China Fund reporter Fang Lilu Jing
Recently, the China Securities Industry Association has formulated the "Decision on Modifying the Management Rules of the First Publicly Publicly Issuance of the Securities Network".
The main contents of this revision include the following aspects: First, optimize the registration conditions for investors on the Internet.The second is the management requirements of the market value of new investors holding the market value of the science and technology board stocks.The third is to strengthen the management of investor behavior.The fourth is to strengthen the responsibility for the recommendation of securities companies.Fifth, further strengthen the deterrent of violations.Sixth, strengthen the protection and management of investor information on the Internet.
Among them, the new regulations clarify that institutional investors should establish the first public issuance of securities compensation assessment mechanisms to strengthen investor professional capabilities and salary constraints, and have attracted great attention from fund companies.According to a reporter from the China Fund News, recently, many fund companies have started to study and formulate relevant compensation assessment systems.
At the same time, the new regulations also put forward higher requirements for the participation of public offering products. In the future, it is necessary to pay more attention to the fundamentals and pricing of new shares, and choose to participate in new shares investment.
"New" new rules attracted attention
The spirit of the plenary session, the Central Financial Work Conference, the new "National Nine Articles" decision -making deployment, and the relevant requirements of the China Securities Regulatory Commissions "Eight Measures on Deepening the Reform of Science and Technology Board, Service Science and Technology Innovation and New Quality", and cooperate with the comprehensive deepening of the capital market reformWork and further strengthen the management of investor self -discipline online. Recently, the China Securities Industry Association has formulated and issued the "Decision on Modifying the Management Rules for the First Publicly Issuing the Securities Network".
Talking about the important content of this new regulation, a person from a large fund company in Beijing pointed out that the new rules are on online investors registration conditions, quotation behavior management, illegal processing procedures, etc.For improvement, the management requirements for the market value of new investors to hold the market value of science and technology boards.
The above -mentioned Beijing Fund Companies said that this revision highlights professional requirements and optimizes online investor registration conditions.Through the requirements of strengthening professional capabilities, integrity status, and continuous management capabilities, urge institutional investors to establish and improve the internal accountability and salary assessment mechanism of the initial securities, strengthen internal management, effectively perform their duties, promote the improvement of market -oriented inquiry pricing mechanismEssenceAt the same time, in accordance with the implementation of the requirements of the "Eight Science and Technology Innovation Articles", new investors participated in the market value requirements of the 6 million science and technology innovation boards purchased by the new shares of Science and Technology Board.
In addition, if the new regulations clarify that investors under the network are included in the restriction list, it will automatically switch to a suspension after the expiration of the term.Apply.This revision will further urge investors to improve the quality and efficiency of self -discipline management and improve the ability of sustainable operation.
Many fund companies have studied and formulated new
Internal accountability mechanism and salary assessment mechanism
Compared with the previous regulations, the new regulations require institutional investors to establish the first publicly issued securities salary assessment mechanism, strengthen investor professional capabilities and salary constraints, and receive compensation constraints.The industry is highly concerned.
"The Human Resources Department of the Fund Company has recently been studying and formulating the relevant compensation assessment system. As long as people participating in the" new "are affected," a person in the industry revealed.
"This revision related management rules, requiring offline institutional investors to set the first securities risk performance assessment indicatActing and illegal acts "" "Gao Yifan, director of the new shares business and fund manager of the Boshi Fund Industry Research Department, seemed that by the establishment of internal assessment and salary constraints, it is expected to further enhance the objective prudence of investors offer quotation and promote market -oriented pricingEffective play of mechanism.
Gao Yifan said that the next step will be followed by the latest "First Online Investor Management Rules" to further improve and refine the companys process management mechanism in the purchase of new shares.Internal accountability and compensation assessment mechanism.In the process of new shares quotation, we continue to adhere to the principle of prudent independence, combine the fundamental aspects of new shares, market emotions, and capital, and make reasonable professional new shares quotations.
"Looking back at the release of the comments at the end of August, the number of accounts involved in the new shares inquiries will decline from more than 6,000 to about 5,000 households, reflecting the investing next to the rules before the online landing.For those who are concerned about the uncertainty of the system.The judgment standards that have negatively affected individual stocks such as the decline and the launch of the initial securities.
In the opinion of the above -mentioned Shanghai Fund Companies, the formal draft of the internal institutional process of the quotation agency is more important to prevent improper quotation.Priority is given to the internal process of the quotation agency, and then implemented a delayed payment or refund mechanism for performance salary, and regularly reported to the association, which is conducive to promoting the improvement of investors under the Internet.
Participate in "New" with higher requirements
Promote long -term health and orderly market health and orderly orderDevelopment
After the introduction of the new regulations of the "new" of this time, it will have a certain impact on the new shares ecosystem and put forward higher requirements on the fund industry participation.
"This new regulations for registering the investors registration conditions, quotation behavior management, and illegal processing procedures for the new regulations.Self -disciplinary management has also standardized the purchase of new shares to purchase quotation.
and another industry insider also said that the introduction of the new rules of "new" is designed to further implement and improve the comprehensive registration system, improve the pricing efficiency and more professional valuation research and judgment capabilities.Participate in the pricing of new shares with the concept of value investment and long -term investment.The new stock pricing mechanism will also be the focus of the deepening reform of the registration system and promote the high -quality development of the capital market.The new regulations will further strengthen the self -discipline management of investors under the network, promote the effective player of the market -oriented pricing mechanism, and publish an ecology under the purification network.
It is worth mentioning that this has higher requirements for the fund industry to participate in new shares.Another industry insiders said that on the one hand, the market is rising before and after the National Day or opened the pricing space of the new stock section.The decline of the weekly highlights that the transaction emotions of new shares are returning to rationality. After the rising rise, the internal pricing of new shares is uneven, and major internal and external events disturb, and it is imperative to differentiate.After the introduction of the new regulations, the future fund company needs to continue to implement the responsibility of "value discovery", and truly return to the compliance, independence, and professionalism of the online inquiry, and further improve the internal mechanism to make the valuation of new shares more reasonable.Promote the long -term healthy and orderly development of the market.
"This has put forward higher requirements for the participation of public offerings, not only has better stock selection capabilities, but also strengthen investment research. You needCombing, compared to the previous frequency and hit rate, you may pay more attention to the fundamentals and pricing of new shares in the future, and choose to participate in new shares investment.
Edit: Captain
Review: Woodfish
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