利好来了，事关重大资产重组，证监会最新发布

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has drafted the "Regulations on the Supervision and Administration of Listed Companies (Public Consultation Draft)" to enhance corporate governance, information disclosure, mergers and acquisitions, investor protection, and to combat illegal activities in the securities market [1] Group 1: Corporate Governance - The regulations aim to improve corporate governance requirements, standardize governance structures, and regulate the behavior of key stakeholders such as controlling shareholders, actual controllers, directors, and senior executives to enhance governance effectiveness [1] Group 2: Information Disclosure - There is a focus on strengthening the regulation of information disclosure, particularly targeting financial fraud by improving internal supervision mechanisms and accountability systems, and prohibiting third-party collusion in fraud [1] Group 3: Mergers and Acquisitions - The regulations will standardize merger and acquisition behaviors, refine rules regarding company acquisitions and major asset restructurings, and clarify the responsibilities and independence requirements of financial advisors to support industrial integration and corporate transformation [1] Group 4: Investor Protection - Clear requirements will be established for market value management, cash dividends, and share buybacks to enhance the value returned to investors, along with specific arrangements for investor protection during voluntary delistings to prevent companies from evading delisting and harming investor interests [1] Group 5: Combating Illegal Activities - The regulations will impose strict penalties for illegal activities, detailing the measures that the State Council's securities regulatory agency can take in the performance of its duties, including specific penalties for behaviors such as asset occupation and collusion in fraud [1]