Core Points - The China Securities Regulatory Commission (CSRC) and the Ministry of Finance have revised the "Interim Provisions on Reporting Violations in Securities and Futures" to form the "Whistleblower Reward Regulations" draft, emphasizing the role of whistleblowers and increasing reward amounts significantly [1][2] Group 1: Whistleblower Definition and Rewards - The term "whistleblower" has been defined, highlighting the moral responsibility and professional characteristics of internal informants, with a reward increase from 1% to 3% of the confiscated amount [1] - For cases with national significance, the maximum reward for whistleblowers has been raised to 1 million yuan [1] Group 2: Funding and Protection Mechanisms - It is suggested that the funding for rewards should be directly linked to confiscated amounts from violations, rather than being limited by the annual budget [2] - A rapid response mechanism against retaliation for whistleblowers is proposed, as current regulations lack clear channels for protection against covert reprisals [2] Group 3: Information Disclosure Guidelines - The draft emphasizes that whistleblowers must provide objective and truthful information, discouraging the fabrication of facts [3] - It is recommended that whistleblowers should avoid publicizing their reports through media channels to prevent market disruptions, with penalties for those who spread false information [3]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) and the Ministry of Finance have revised the whistleblower reward regulations to enhance the reporting system for securities and futures violations, aiming to promote a culture of accountability and support the high-quality development of the capital market [1][3]. Summary by Sections New Definitions and Reward Conditions - New definitions have been added to better reflect the spirit of justice and responsibility of whistleblowers [2][4]. - The conditions for rewards have been improved, including serious violations that significantly disrupt market order, endanger financial security, or infringe on investors' rights [2][4]. Increased Reward Amounts - The maximum reward for significant cases has been raised to 1 million yuan, up from previous limits of 300,000 yuan and 600,000 yuan [2][4]. - The reward percentage has increased from 1% to 3% of the penalty amount collected from the case [4][6]. Confidentiality and Protection Measures - Whistleblower identities will be managed anonymously, and strict confidentiality will be maintained to protect their rights [5][6]. - Any retaliation against whistleblowers by companies or institutions will be subject to severe penalties [7]. Supervision and Accountability - A mechanism for accountability has been established for those handling whistleblower reports, ensuring that negligence or misconduct will lead to disciplinary actions [7].