Cai Jianchun, Member of the National Committee of the Chinese People's Political Consultative Conference and President of Shanghai Stock Exchange, Proposes to Strengthen the Judicial Support for Investor Protection Institutions

According to People's Financial News on March 8, Securities Times reporters learned that Cai Jianchun, Member of the National Committee of the Chinese People's Political Consultative Conference and President of Shanghai Stock Exchange (SSE), proposed to strengthen the judicial support for investor protection institutions. First, he suggested amending the Judicial Interpretation on Representative Actions and other regulations to allow investor protection institutions to bypass the ordinary representative action procedures and directly initiate special representative actions in the case of major and typical violations such as fraudulent issuance and forced delisting due to serious violations. Second, he suggested clarifying in relevant judicial interpretations and judicial policy documents that investor protection institutions are exempted from prepaying case acceptance fees when initiating shareholder derivative lawsuits, thereby reducing the financial burden on these institutions when upholding investors' rights. Third, he proposed amending the Opinions on Comprehensively Promoting the Development of Diversified Resolution Mechanisms for Securities and Futures Disputes to explicitly state that courts should prioritize investor protection institution-supported litigation cases as exemplary judgments, and guide other parties to resolve disputes through diversified resolution mechanisms such as mediation, thus fully leveraging the positive role of investor protection institutions in the "exemplary judgment + litigation-mediation coordination" mechanism. (Securities Times, Zhang Shuxian)

The above information is provided for reference purposes only and does not constitute investment advice.