证监会加强投资者保护六要点：加大对IPO中介机构检查督导力度，禁止以上市结果作为收费条件

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has strengthened the protection mechanisms for small and medium-sized investors in the capital market by issuing a set of 23 specific measures aimed at enhancing investor rights and market stability [2][3]. Group 1: Strengthening Investor Protection During Issuance and Listing - The measures include optimizing the new stock issuance pricing mechanism to encourage long-term holding and improving the quality of prospectus disclosures [5][6]. - It prohibits underwriters from charging fees based on the scale of issuance and mandates strict information disclosure responsibilities for listed companies [5][6]. Group 2: Creating a Fair Trading Environment - The CSRC aims to enhance the transparency and fairness of margin trading and strengthen the regulation of algorithmic trading [6][8]. - It emphasizes the need for securities firms to manage trading units uniformly and prohibits any special privileges for individual investors [6][8]. Group 3: Enhancing Product and Service Offerings - The measures encourage financial institutions to provide more products and services that align with the risk tolerance of small and medium-sized investors [8]. Group 4: Combating Fraudulent Activities - The CSRC has committed to intensifying the crackdown on fraudulent issuance and financial disclosure violations, holding responsible parties accountable [9]. - It also aims to address various market irregularities that harm investor interests, such as insider trading and market manipulation [9]. Group 5: Protecting Investors in Delisting Scenarios - The measures include enhanced monitoring of companies at risk of delisting and ensuring that investors are informed about potential risks [10]. - It also outlines protections for investors during mandatory delistings and voluntary delistings, including cash options [10]. Group 6: Promoting Timely Compensation for Investors - The CSRC is advancing a diversified dispute resolution mechanism for securities and futures disputes, emphasizing mediation and civil litigation [11][12]. - It encourages voluntary compensation commitments from issuers and their controlling shareholders to ensure timely and effective restitution for investors [12].