The SFC Clearly Defined The Pitional Arrangement For New And Old Reorganization Methods.

Yesterday, the securities and Futures Commission spokesman Deng Ge responded to the hot topics of the market.

As for the pitional arrangement of the new and old reorganization system, Deng Ge emphasized that the new reorganization method will be formally implemented in November 23rd.

Before November 23rd, the reorganization plan of the listed company has been voted by the shareholders' meeting.

If the company intends to apply the new regulation, it should terminate the original reorganization and start the reorganization according to the new reorganization.

The company has passed the resolution of the board of directors before November 23rd, but the company that has not yet voted for the shareholders' meeting may choose whether to adjust the plan according to the new reorganization method.

If the reorganization plan is to be adjusted according to the new reorganization method, the date of the announcement of the resolution of the previous board of directors may be chosen as the base price date, and at the same time, the paction price can be adjusted accordingly, and the board of directors shall be convened to vote on the new reorganization plan.

The company that chooses the new reorganization method shall hold a voting reorganization plan after the shareholders' meeting in November 23rd.

After November 23rd, the reorganization plan of the listed company will be voted through the shareholders' meeting, and the new reorganization will be carried out.

According to the latest development of crude oil futures, he pointed out that the SFC has been actively promoting the construction of crude oil futures market in conjunction with relevant ministries and commissions. At present, all work is proceeding in an orderly way, and the SFC will continue to work closely with the relevant ministries and commissions to make solid crude oil futures.

The preparatory work is to strive for the introduction of crude oil futures as soon as possible.

It also revealed that the SFC has worked with relevant ministries and commissions to launch a study on the administrative reconciliation system in the securities and futures sector, and has already drawn up a pilot scheme, which is being further demonstrated.

It is reported that

It is a way of taking into account the economic sanctions against the offenders and the economic compensation for the interests of the impaired investors.

Many countries and regions in the world, especially the developed market countries and regions, have made unified, explicit provisions and arrangements for the administrative reconciliation system in their relevant legal systems, and have been widely applied in the practice of law enforcement, especially in commercial law enforcement.

In 2013, the general office of the State Council issued the opinions on Further Strengthening the protection of the legitimate rights and interests of small and medium investors in the capital market, and proposed that we should explore the establishment of the administrative reconciliation system in the securities and futures field and carry out the pilot of administrative reconciliation.