加强中小投资者保护“23条”政策措施出台

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a comprehensive policy document aimed at enhancing the protection of small and medium-sized investors in the capital market, outlining 23 specific measures across eight areas [1][2]. Group 1: Strengthening Responsibilities of Operating Institutions - Operating institutions are required to embed investor education into their business processes and ensure appropriate management of investor suitability [1]. - Institutions must thoroughly explain business rules and important contract terms to investors before selling financial products, enhancing the effectiveness of investor education [1]. - The document emphasizes the need for institutions to take responsibility for addressing investor complaints and improving service quality through better internal controls and compliance management [1]. Group 2: Enhancing the Role of Investor Protection Institutions - Investor protection institutions are tasked with playing a significant role in dispute resolution, including supporting litigation and representing investors in lawsuits [2]. - As of September 2025, the Investor Protection Center has supported 90 lawsuits, 19 representative lawsuits, and has helped over 60,000 investors recover approximately 2.895 billion yuan [2]. - The document highlights the necessity for these institutions to adapt to the growing legal awareness and rights consciousness of small and medium-sized investors [2]. Group 3: Mechanisms for Protecting Investors During Delisting - The document outlines measures to strengthen investor protection during the delisting process, including continuous monitoring of companies at risk of delisting [3]. - Companies facing delisting risks are required to fully disclose such risks to safeguard investors' right to information and prevent irrational stock trading [4]. - In cases of mandatory delisting due to major violations, companies are encouraged to take proactive measures to compensate investors for losses incurred due to illegal activities [4][5].