Market Entry Should Also Be Tied Up With Legal Barriers.

From the contents of the decision on Amending the prohibition of securities market, the draft for comment has amended the applicable scope of the original "Prohibition of entry into securities market" and the adoption of measures to prohibit entry into the stock market for life.

For example, if the scope of application of the securities market entry prohibition is extended from the issuer and the listed company to the non listed public company, and the serious violation of the law is repeated against repeated violations and repeated penalties, the applicable conditions of recidivism should be increased.

Therefore, the draft is more perfect than the original ban on entering the securities market.

However, no matter how to improve the regulations on Prohibition in securities market,

The weakness of the system is still very obvious. In terms of the system itself, it is difficult to make fundamental changes.

First, the system of market entry is of little significance to those who are "successful in conspiracy".

Such as green land fraud listing, the company's former chairman He Xuekui was declared lifelong.

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But this is of little significance to He Xuekui, the litigant.

Because this does not alter the fact that the green land has been listed successfully through fraud, and he has become the biggest beneficiary through counterfeiting.

Although He Xuekui was sentenced to 10 years for fraud, he still did not change the fact that he became a billionaire because he had a large stake in the green land.

With hundreds of millions of dollars in wealth, the stock market is obviously no longer important for He Xuekui. What is the significance of he's failure to enter the securities market?

Two, the market entry system is difficult to prevent the parties from entering the market in Shadow form.

For example, a market manipulator can update an account and re-enter the market in the name of others.

What's more, today's stock trading can be completed through mobile phone pactions. The parties do not even need to enter the market. Who knows the true colors of the Mount Lu? As a listed company, there are many family businesses listed on the market. Therefore, even if the chairman of these companies announced that they were banned from the market, they could still affect the operation and management of enterprises as a shadow, because the most likely successor of the company is his family members, such as his wife, children, brothers and sisters.

So despite the fact that

The improvement of the prohibition rule is worth affirming, but the role of the prohibition rule in securities market is still limited.

Therefore, the perfection of the securities market entry prohibition rule must be combined with the strict law of the stock market. For example, for the investigation of the green land fraud listing case, it is necessary to confiscate the illegal gains of Ho Xue ye, so that it will become bankrupt because of the counterfeiting and listing.

For example, the problem of entering the market in the form of "shadow" is difficult to prohibit. Therefore, it is better to increase the intensity of punishment when the penalty is imposed, and impose a "top penalty" on the issue of fines and sentencing.

In this way, we can make up for the deficiencies in the prohibition of securities market.