刚刚！最高法、证监会联合发布！

Core Viewpoint - The article discusses the "Guiding Opinions on Strictly and Fairly Enforcing Justice to Serve and Guarantee the High-Quality Development of the Capital Market," which aims to enhance investor protection, regulate market participants, and improve the judicial and administrative collaboration in the capital market [1][2][5]. Group 1: Investor Protection - The guiding opinions emphasize the need to protect the legitimate rights and interests of all investors, particularly long-term and patient capital, to ensure their participation in corporate governance and return on investment [1][6][10]. - It advocates for the establishment of a judicial environment that supports early, small, long-term, and hard technology investments, promoting a virtuous cycle of capital preservation and appreciation [1][6]. - The document outlines measures to combat fraudulent issuance and continuous information disclosure fraud, increasing the legal costs for violators and ensuring accountability for controlling shareholders and related parties [2][12]. Group 2: Market Participant Regulation - The opinions call for the regulation of behaviors of securities, futures, and fund management institutions to ensure stable operations and prevent regulatory arbitrage [6][17]. - It highlights the importance of a multi-tiered capital market and the need for judicial rules that support industry self-regulation, aiming to purify the market ecology and mitigate risks [6][18]. - The document stresses the necessity of judicial support for mergers and acquisitions, declaring invalid any anti-takeover clauses in company charters that violate laws and regulations [10][11]. Group 3: Judicial and Administrative Collaboration - The guiding opinions propose enhancing the collaboration between judicial and administrative bodies to improve the efficiency of dispute resolution mechanisms and ensure timely and effective enforcement of laws [9][22]. - It emphasizes the establishment of a multi-faceted dispute resolution mechanism, encouraging non-litigation methods to resolve securities disputes [22][23]. - The document outlines the need for improved information sharing and communication between courts and regulatory bodies to enhance risk prevention and early warning capabilities [24][25]. Group 4: Enhancing Judicial Capacity - The opinions call for strengthening the financial trial and regulatory enforcement teams to ensure a politically correct direction in capital market enforcement [27]. - It advocates for the optimization of financial case jurisdiction and trial mechanisms to enhance the professionalism of financial trials [27]. - The document highlights the importance of continuous training and communication between judicial and regulatory personnel to improve their understanding of financial innovations and market operations [27].