Group 1: Quantitative Trading Regulation - The article emphasizes the importance of enhancing risk control in quantitative trading while maintaining its role in improving market liquidity and stability [1] - It suggests increasing the capital requirements and entry thresholds for high-frequency trading strategies, proposing a "license + filing" dual-track system for regulation [1] Group 2: Shareholder Reduction Mechanism - The article discusses optimizing the regulatory mechanism for major shareholders' reduction of shares, advocating for differentiated supervision for strategic investors and controlling shareholders [2] - It proposes relaxing reduction restrictions for strategic investments to facilitate timely exits and promote a healthy cycle of fundraising, investment, management, and exit [2] - The article recommends linking share buybacks and dividends to the reduction of shares by controlling shareholders to protect the interests of minority investors [2] Group 3: ETF Market Development - The article suggests relaxing or eliminating the requirements for public funds regarding the fundraising amount and the number of fund holders for ETF listings to promote market growth [3] - It proposes allowing ETFs to be established and listed directly, exempting them from holder number and fundraising scale requirements, with market makers providing liquidity [3]