从“严”氛围升级！中证协拟规范证券从业者投资行为，剑指违规炒股与内幕交易

Core Viewpoint - The China Securities Association (CSA) has released a draft guideline for managing the investment behaviors of securities company personnel, aiming to prevent illegal activities such as insider trading and to promote a high-quality development of the capital market and securities industry [1][2]. Summary by Sections Basic Requirements and Management Scope - The draft guideline outlines the basic requirements for investment behaviors of personnel, including the need to declare personal and related parties' investment information [2]. - It emphasizes the importance of adhering to the core values of the securities industry and practicing the unique financial culture of China [2]. Responsibilities of Securities Companies - Securities companies are designated as the primary responsible entities for managing the investment behaviors of their personnel, requiring them to establish comprehensive management systems [2]. - The guideline mandates that companies must prevent conflicts of interest and ensure compliance throughout all investment activities [2]. Direct Responsibilities of Personnel - Personnel must declare their and their relatives' investment information accurately and completely, with a list of prohibited behaviors provided to guide compliance [2][3]. Stock Account Management - Securities companies are required to set clear rules for managing personnel's stock accounts, encouraging transactions through affiliated companies and mandating monthly transaction record submissions for non-affiliated accounts [3]. - Certain exemptions for reporting investment information may be granted under specific conditions to ease the reporting burden while enhancing monitoring accuracy [3]. Personal Information Protection - The guideline stresses the need for securities companies to handle personal information lawfully and securely, establishing mechanisms to protect data and prevent excessive processing [3]. Industry Self-Regulation - The CSA aims to strengthen self-regulation among personnel, imposing strict penalties for violations and fostering collaboration to combat illegal trading practices [3][4]. Key Position Monitoring - The guideline specifies that securities companies must conduct focused monitoring of key personnel based on their roles and access to sensitive information, ensuring compliance and preventing conflicts of interest [5][6]. - Various business areas, including investment banking, research report publication, and asset management, are highlighted for specific monitoring protocols to prevent misuse of insider information [6][7].