证监会大幅提高证券期货“吹哨人”奖励
Qi Huo Ri Bao Wang·2026-01-12 14:59

Core Viewpoint - The new regulations by the China Securities Regulatory Commission (CSRC) and the Ministry of Finance aim to enhance the whistleblower reward system for reporting securities and futures violations, significantly increasing the potential rewards and protections for whistleblowers [1][2][4] Summary by Sections Whistleblower Definition and Purpose - A "whistleblower" is defined as an individual or entity that possesses knowledge of securities and futures violations and is willing to provide evidence to protect investors' rights [1] - The implementation of these regulations marks a significant upgrade in the whistleblower incentive system in China's capital market, impacting market ecology, regulatory efficiency, and investor confidence [1] Reward Structure - The reward amount for whistleblowers has been increased from 1% to 3% of the penalty amount, with specific caps: up to 500,000 yuan for significant leads and up to 1,000,000 yuan for cases with national impact or involving insider knowledge [2] - The CSRC will initiate the reward process based on the number of cases and available budget, with a structured announcement of eligible cases and reward procedures [2] Protection Mechanisms - The regulations include measures to protect whistleblower identities, ensuring anonymity and preventing retaliation through legal consequences for those who attempt to harm or intimidate whistleblowers [3] - Whistleblowers who voluntarily disclose their involvement in violations may receive leniency in administrative penalties, promoting a culture of accountability [3] Impact on Market Regulation - The regulations are expected to enhance regulatory effectiveness, encouraging internal personnel to report serious violations such as financial fraud and insider trading, thereby purifying the market environment [4] - Stricter penalties for retaliating against whistleblowers aim to eliminate the "reporting leads to unemployment" phenomenon, thereby motivating whistleblowers and deterring market misconduct [4]