China Securities Regulatory Commission: Support relevant market institutions and personnel to proactively pay compensation in accordance with regulations

China News Service, Beijing, November 11 (Reporter Chen Kangliang) According to news from the China Securities Regulatory Commission on the 11th, the head of the relevant department of the China Securities Regulatory Commission said in response to a reporter's question that the China Securities Regulatory Commission supports relevant market institutions and personnel to proactively implement advance compensation in accordance with the relevant provisions of the securities law, resolve conflicts and disputes in a timely manner, and effectively safeguard the legitimate rights and interests of investors.

A reporter asked: On October 23, GF Securities announced that it would join hands with Lixin Accounting Firm and the actual controller of Qingyue Technology to establish a special fund for advance compensation in response to the misrepresentation incident of Qingyue Technology. The investment insurance fund company announced that it would be entrusted to serve as the fund manager. What do you think of this?

The person in charge said that advance compensation is one of the diversified resolution mechanisms for securities disputes stipulated in the Securities Law. The controlling shareholders, actual controllers, and relevant securities companies of the relevant issuers can voluntarily compensate investors for losses in advance in accordance with the law. The China Securities Regulatory Commission supports relevant market institutions and personnel to proactively implement advance compensation in accordance with the relevant provisions of the Securities Law, resolve conflicts and disputes in a timely manner, and effectively safeguard the legitimate rights and interests of investors.

The person in charge said that as a public welfare investor protection institution, investment insurance fund companies accept the entrustment of advance compensation entities and provide convenient services for the specific implementation of advance compensation. Recently, the China Securities Regulatory Commission is soliciting public opinions on the "Guiding Opinions on Advance Compensation in the Securities Market" and plans to further refine the implementation procedures for advance compensation, strive to more fully and standardize the professional support advantages of investor protection agencies, and provide more diversified mechanisms and channels for the intensive and efficient resolution of securities group disputes.