Recently, the Beijing Financial Court formulated and issued the Opinions of the Beijing Financial Court on Providing Judicial Services and Guarantees for Deepening the Reform of the National Equities Exchange and Quotations and Establishing the Beijing Stock Exchange (hereinafter referred to as the Opinions).
The Opinions focused on the Party Central Committee’s work arrangement regarding deepening the reform of the National Equities Exchange and Quotations (NEEQ), setting up the Beijing Stock Exchange, and building a major platform to support the development of innovation-based small and medium-sized enterprises. The Opinions specified 25 measures of the Beijing Financial Court to provide judicial services and guarantees for deepening the reform of NEEQ and establishing the Beijing Stock Exchange. Such measures encompassed five aspects, including fully leveraging the function of financial trial, building a national financial coordination law-based platform, promoting the reform of the financial trial system, and improving the diversified financial dispute resolution mechanism and the judicial protection mechanism of market entities.
It is noted that the Opinions echoed the plan of the Party Central Committee, and solidified the implementation of various tasks. Based on the functions of the Beijing Financial Court, the Opinions actively responded to the judicial needs of innovation and reform in the financial field with respect to “deepening the reform of NEEQ and establishing the Beijing Stock Exchange”; the Opinions also strengthened the supporting measures to ensure the targeted implementation of various measures and achieve practical results.
The Opinions specified that the financial civil, commercial and administrative cases involving NEEQ and the Beijing Stock Exchange should receive fair and efficient hearing; that judicial and administrative supervision departments should coordinate to support the development of innovation-based small and medium-sized enterprises; that policies and regulations should be better studied and predicted, and the comprehensive securities registration system should be developed soundly; that the accountability principles of information disclosure should be strictly implemented to protect the legitimate rights and interests of investors; that legal relations should receive accurate hearing and identifying to continuously improve the financing system; that a “cumulative progression” market should be accurately comprehended to implement the continuous supervision system; and that the operation mechanism of securities representative actions which conforms to the characteristics of the Beijing Securities Exchange should be established and improved.
For the next step, the Beijing Financial Court will actively respond to the judicial concerns of market entities, combine its trial experience and practice, identify the focus and important issues of its judicial work, stick to demand orientation, innovate the system and mechanism, explore the judgment rules, strengthen theoretical research, and build up a professional team, so as to improve its capability of providing judicial services and guarantees in an all-round way.