Core Viewpoint - The China Securities Regulatory Commission (CSRC) and the Ministry of Finance have introduced an upgraded whistleblower reward system aimed at enhancing the detection and punishment of major violations in the securities and futures markets, with rewards reaching up to 1 million yuan [1][3]. Summary by Sections Whistleblower Reward System - The new regulations increase the reward percentage from 1% to 3% of the penalties collected from violations [3]. - The maximum reward for providing significant leads on major violations has been raised from 100,000 yuan to 500,000 yuan [3]. - For cases with nationwide significant impact or involving internal informants, the maximum reward has been unified to 1 million yuan [3][4]. Internal Informants - Internal informants are encouraged to report violations, as they can receive higher rewards due to their potential contributions to case investigations [4]. - The regulations prioritize the verification and handling of leads provided by internal informants [4]. Conditions for Rewards - To qualify for rewards, the penalty amount must be no less than 1 million yuan, an increase from the previous threshold of 100,000 yuan [7]. - The reported cases must exhibit three serious characteristics: severely disrupting market order, endangering financial security, and infringing on investors' rights [7]. Anonymous Reporting - The updated regulations allow for anonymous whistleblowers to receive rewards if they meet the necessary criteria [7][8]. - Whistleblowers who withdraw their reports or obstruct investigations will have their rewards canceled [8]. Protection and Accountability - The regulations include measures for the protection of whistleblowers, ensuring their identities are kept confidential [10]. - Any retaliation against whistleblowers by companies will be treated as a governance failure, leading to potential legal consequences [10][11]. - There is a strengthened accountability mechanism for those handling whistleblower leads, with penalties for negligence or misconduct [11].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) and the Ministry of Finance have jointly released a draft regulation to enhance the whistleblower reward system in the capital market, significantly increasing the reward amounts and protections for whistleblowers [1][2][4] Summary by Sections Whistleblower Reward Enhancements - The reward percentage for whistleblowers has been increased from 1% to 3% of the penalties collected from the case [4][5] - The maximum reward for providing significant illegal activity leads has been raised from 100,000 yuan to 500,000 yuan, and for cases with national significance or involving substantial amounts, the maximum can reach 1 million yuan [4][5] Eligibility Criteria for Rewards - To qualify for rewards, the penalties from the case must be no less than 1 million yuan, an increase from the previous threshold of 100,000 yuan [9][10] - The cases must be classified as "major cases" that severely disrupt market order, threaten financial security, or infringe on investors' rights [10] Protection and Accountability Measures - The new regulations allow for anonymous whistleblowers to receive rewards, enhancing the protection mechanisms for those who report misconduct [10][11] - Strict measures are in place to prevent retaliation against whistleblowers, including penalties for companies that retaliate against them [15] Process Improvements - The reward process has been optimized, including a clear timeline for reward distribution and a three-month deadline for confirming whistleblower registration [14] - Whistleblowers can track the processing of their leads, although specific details about the investigation will not be disclosed to them [5][14]

Core Viewpoint - The article discusses the systematic upgrade of the whistleblower system in China's securities and futures market, emphasizing the increased rewards and expanded scope for whistleblowers to enhance market integrity and investor protection [1][2]. Summary by Sections Reward Mechanism - The reward amount has been uniformly increased to 1 million yuan, with the reward percentage raised from 1% to 3% of the penalty amount [3][8]. - The upper limit for rewards for significant violations has been increased from 100,000 yuan to 500,000 yuan, and for cases with nationwide impact or involving internal informants, the cap has been raised to 1 million yuan [3][9]. Scope of Whistleblowers - For the first time, individuals who play a secondary role in violations are included in the reward scope [4]. - Anonymous whistleblowers can now receive rewards after submitting supplementary materials, addressing previous challenges in claiming rewards [5][9]. Regulatory Improvements - The new regulations aim to strengthen accountability for those handling whistleblower reports, with penalties for negligence or misconduct [7]. - The threshold for cases eligible for rewards has been raised from 100,000 yuan to 1 million yuan, enhancing the incentive for internal reporting [8][9]. Impact on Market Integrity - The adjustments are expected to activate internal supervision, significantly reducing the concealment of financial fraud and market manipulation [9]. - The cultivation of a whistleblower culture is anticipated to improve internal governance in listed companies, providing institutional support for the high-quality development of the capital market [9].

北京商报讯（记者 马换换 王蔓蕾）9月30日，中国证监会官网显示，为进一步完善举报制度，有效回应 市场关切，弘扬公正担当的吹哨人文化，更好适应资本市场高质量发展和监管执法工作要求，结合举报 工作实践，中国证监会会同财政部修订完善了《证券期货违法违规行为举报工作暂行规定》，形成了 《证券期货违法行为吹哨人奖励工作规定（征求意见稿）》，现向社会公开征求意见。 从修订内容来看，一是修改制度名称。制度名称从《证券期货违法违规行为举报工作暂行规定》修改为 《证券期货违法行为吹哨人奖励工作规定》，新增概念定义，以更好体现吹哨人正义担当精神，强调专 业特点，突出激励导向，同时也符合国际惯例。同时，在行文上对举报制度相关表述作出适应性安排， 并与证券期货法律法规举报条款作了法源上的必要衔接。 二是完善奖励条件。严重破坏证券期货市场秩序，严重危害金融安全，严重侵害投资者合法权益的重大 案件纳入奖励案件范围。可奖励案件条件从罚没款金额10万元提升为100万元。按要求补充相关材料信 息的匿名吹哨人，以及在违法行为中起次要或者辅助作用的吹哨人，符合条件的也可予以奖励。同时补 充了奖励消极条件，明确吹哨人撤销、撤回线索和妨碍、阻碍违法 ...

本报记者 吴晓璐 9月30日，为深入贯彻党中央、国务院决策部署，进一步完善举报制度，有效回应市场关切，弘扬公正担当的吹哨人文 化，更好适应资本市场高质量发展和监管执法工作要求，结合举报工作实践，中国证监会会同财政部修订完善了《证券期货违 法违规行为举报工作暂行规定》（简称《举报规定》），形成了《证券期货违法行为吹哨人奖励工作规定（征求意见稿）》 （简称《吹哨人奖励规定》），现向社会公开征求意见。 6.为激励吹哨人及时提供重大违法线索，在案件罚没款入库金额能够覆盖奖励金额后启动奖励程序，一起案件奖励一次， 案件奖金总额不超过罚没款实际收缴金额。 2.完善奖励条件。严重破坏证券期货市场秩序，严重危害金融安全，严重侵害投资者合法权益的重大案件纳入奖励案件范 围。 3.提供的案件线索在全国范围内有重大影响，或者涉案数额特别巨大，或者吹哨人为内部知情人员的，每案奖金上限从30 万元、60万元统一提升至100万元。 4.明确依法秉公处理，分级负责办理，严格保密信息，充分保护吹哨人合法权益的工作原则。 5.对吹哨人身份信息实行匿名管理。 速览要点： 1.新增概念定义，以更好体现吹哨人正义担当精神。 回应市场关切 2014年 ...

在奖励标准方面，提高奖金比例，《吹哨人奖励规定》明确，奖励金额由案件罚没款金额1%提升为3%。提供重大违法行为线索的，奖金上限也从10万元提 升为50万元。提供的案件线索在全国范围内有重大影响，或者涉案数额特别巨大，或者吹哨人为内部知情人员的，每案奖金上限从30万元、60万元统一提升 至100万元。 较大幅度提高奖励标准。 9月30日，证监会和财政部共同发布了《证券期货违法行为吹哨人奖励工作规定（征求意见稿）》（以下简称《吹哨人奖励规定》），进一步完善举报制度， 完善奖励条件，较大幅度提高奖励标准，严格规范办理要求，鼓励公正担当的吹哨人文化。 优化奖励程序和保护机制 《吹哨人奖励规定》明确依法秉公处理，分级负责办理，严格保密信息，充分保护吹哨人合法权益的工作原则。明确接收线索渠道及处理职责分工。设立专 门机制，优先核查和处理内部知情人提供的违法线索。线索处理单位可根据调查需要请内部知情人员协助调查。进一步规范办理程序和线索处理方式。确保 信息公开的公平性，吹哨人可以查询线索处理程序性信息，线索处理单位不单独答复或者告知吹哨人线索处理信息，依法需要公开线索处理信息的按照规定 公开或者披露。 在优化奖励程序方面， ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the whistleblower reward regulations to enhance the reporting system for securities and futures violations, aiming to promote a culture of accountability and adapt to the high-quality development of the capital market [1][2]. Summary by Sections Revision of Regulations - The name of the regulation has been changed from "Interim Provisions on Reporting Violations in Securities and Futures" to "Whistleblower Reward Regulations for Securities and Futures Violations," emphasizing the spirit of justice and accountability [2]. Improvement of Reward Conditions - Major cases that severely disrupt market order or harm financial security are now included in the reward scope, with the minimum penalty amount for rewards increased from 100,000 yuan to 1 million yuan [3]. Increase in Reward Standards - The reward percentage has been raised from 1% to 3% of the penalty amount, with the maximum reward for significant leads increased from 100,000 yuan to 500,000 yuan, and for cases with substantial impact, the cap has been raised to 1 million yuan [4]. Strict Handling Requirements - The regulations emphasize fair handling, confidentiality, and the protection of whistleblower rights, with clear channels for reporting and responsibilities for processing leads [5]. Optimization of Reward Procedures - The CSRC will batch process rewards based on the number of qualifying cases and budget considerations, with a three-month deadline for confirming whistleblower registrations [6]. Enhancement of Protection Mechanisms - Whistleblower identities will be managed anonymously, and any retaliation against whistleblowers will be strictly prohibited, with severe penalties for companies that retaliate [7]. Establishment of Supervision and Accountability Mechanisms - There will be a strengthened accountability mechanism for handling whistleblower leads, with penalties for staff who fail to perform their duties or engage in misconduct [8].

我对财务造假深恶痛绝，那些造假公司获得投资者支持，进而在资本市场融资发展，但又在财务数字里藏猫腻，欺骗投资者，实在不可原谅。近几年，资 本市场加大了对财务造假的打击力度，但仍有造假者想着各种法子逃避监管。怎样才能从根源上铲除财务造假的土壤呢？ 要切断财务造假利益链条，破除造假"生态圈"。全国人大代表、北京证监局局长贾文勤建议，增加第三方配合造假的追责依据，通过司法解释和典型案例释 明第三方配合造假的民事、刑事责任的认定标准，完善第三方配合造假的协同处置机制，对违法行为依法实施有效的联合惩戒。 从过往案件查处情况来看，上市公司的客户、供应商、合作方、中介机构等第三方配合造假行为多发，呈现出主体多元化、形式多样化、手法专业化的特 点，涉及范围广、领域多，且配合方往往不属于证监会监管对象，发现、查处难度加大，给打击财务造假造成了困难，有必要加大对第三方配合造假的打击 力度，遏制配合造假行为，对证券市场"看门人"打瞌睡，甚至为虎作伥等行为"零容忍"，给上市公司的第三方戴上"紧箍"。 除了打击造假全链条的参与者，还得继续加大对造假者的惩戒力度。全国人大代表、清华大学国家金融研究院院长田轩提出，要完善刑法中关于财务造假和 ...