Core Viewpoint - The China Securities Regulatory Commission (CSRC) is seeking public opinion on the draft of the "Regulations on the Supervision and Administration of Listed Companies," aiming to enhance corporate governance, strengthen information disclosure, regulate mergers and acquisitions, protect investors, and combat illegal activities [1] Group 1: Corporate Governance - The regulations aim to improve corporate governance requirements, standardizing governance structures and the behavior of key stakeholders such as controlling shareholders, actual controllers, directors, and senior executives to enhance governance effectiveness [1] - The focus is on laying a solid foundation for the high-quality development of listed companies [1] Group 2: Information Disclosure - There will be a stronger emphasis on regulating information disclosure, particularly targeting financial fraud by improving internal supervision mechanisms and accountability systems [1] - The regulations will prohibit third-party involvement in fraudulent activities, aiming for a multi-dimensional approach to combat and prevent such issues [1] Group 3: Mergers and Acquisitions - The regulations will standardize and refine the rules regarding acquisitions and major asset restructurings, clarifying the responsibilities and independence requirements of financial advisors [1] - This is intended 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 investment value of listed companies and increase awareness of returning value to investors [1] - The regulations will also specify investor protection arrangements during voluntary delisting to prevent companies from evading delisting and harming investor interests through bankruptcy restructuring [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 authority can take in the performance of its duties [1] - Specific penalties will be set for behaviors such as asset occupation and cooperation in fraud [1]

五是严厉打击违法违规行为，细化国务院证券监督管理机构在依法履职过程中可以采取的措施，对占用 担保、配合造假等行为设置专门罚则。 点击图片查看详情 12月5日晚，据证监会网站消息，中国证监会起草了《上市公司监督管理条例（公开征求意见稿）》， 现向社会公开征求意见。 《条例》共八章、七十四条，除总则和附则外，主要内容包括： 一是完善上市公司治理要求，规范治理架构以及控股股东、实际控制人、董事、高管等关键少数的行 为，促进提升治理的有效性，夯实上市公司高质量发展的根基。 二是进一步强化信息披露监管。特别是针对上市公司信息披露"财务造假"，通过健全上市公司内部监督 制约、追责追偿机制，禁止第三方配合造假等方式，多维度予以重点打击和防范。 三是规范并购重组行为。细化完善上市公司收购、重大资产重组等规定，进一步明确财务顾问的职责定 位和独立性要求，支持产业整合升级和企业转型。 四是加强投资者保护。对市值管理、现金分红、股份回购等作出明确要求，推动上市公司提升投资价 值、增强回报投资者意识。明确主动退市中投资者保护安排，防范上市公司规避退市、利用破产重整损 害投资者利益。 SFC 来源丨中国证监会 编辑丨江佩佩 见习编辑张 ...

钛媒体App 12月5日消息，中国证监会起草了《上市公司监督管理条例（公开征求意见稿）》，现向社 会公开征求意见。意见稿指出，完善公司治理要求。一是明确上市公司治理的基本架构。对上市公司章 程载明事项进行细化规定；规定公司股东会、董事会、审计委员会、独立董事的职权和行使方式。二是 规范董事和高级管理人员行为。明确董事、高级管理人员的任职资格，细化规定董事、高级管理人员的 忠实勤勉义务及董事会秘书的职责，加强对董事、高级管理人员的激励与约束。三是规范控股股东、实 际控制人行为。细化控股股东、实际控制人的认定标准，严禁控股股东、实际控制人实施资金占用、违 规担保等损害上市公司利益的行为，严格规范同业竞争和关联交易行为。四是保障和规范股东行使权 利。禁止干预股东行使法定权利，规范表决权让渡、放弃，以及大股东、特定股东减持等行为。（证监 会） ...