资本市场司法保障迎纲领性文件 释放投资者保护积极信号

Core Viewpoint - The "Guiding Opinions" issued by the Supreme People's Court and the China Securities Regulatory Commission aim to enhance the judicial protection of the capital market, addressing various practical difficulties and improving investor confidence and protection [1][2]. Group 1: Coverage and Practical Issues - The "Guiding Opinions" cover a wide range of topics in the capital market, addressing key difficulties and providing actionable policy guidance to optimize the market ecosystem and enhance investor protection [2][3]. - Specific areas addressed include securities issuance, mergers and acquisitions, stock trading, and responsibilities of various market participants, highlighting the need for improved judicial rules [2][3]. Group 2: Judicial Rule Improvement - The "Guiding Opinions" propose several plans to improve judicial rules, including the need for judicial interpretations regarding insider trading and market manipulation, which have been lacking [4]. - The document emphasizes the importance of a comprehensive approach to tackling financial fraud, including criminal liability for third parties involved in financial misconduct [3][4]. Group 3: Collaboration Between Judicial and Regulatory Bodies - The "Guiding Opinions" suggest optimizing the collaboration mechanisms between judicial and regulatory bodies, enhancing dispute resolution methods, and improving the efficiency of administrative enforcement [5].