The Shanghai Stock Exchange (SSE), the Zhejiang Securities Regulatory Bureau (ZSRB) and the Ningbo Securities Regulatory Bureau (NSRB) jointly held a training class for guiding rational investment.
A Zhejiang-based special training class for guiding rational investment, jointly sponsored by the SSE, the ZSRB and the NSRB, was recently held in Hangzhou, with a view to implementing the investor suitability management and enhancing the investors' abilities of rational participation in investment.
Heads of the business departments from nearly 400 securities companies took part in the training class. Relevant officials from the ZSRB, the NSRB and the SSE delivered speeches at the meeting for the training.
An SSE official pointed out that securities companies should play a major role in innovating on products, business and mechanisms as well as guiding rational investment and value investing because they, as the bridges linking investors and the capital market, undertake the historic mission of fulfilling these tasks. As stated by Chairman Guo Shuqing of the China Securities Regulatory Commission (CSRC) at the national seminar on innovation and development of securities companies, securities companies should have the courage to take the industry responsibilities for realizing the sound and coordinated development of the securities industry and the national economy. They should undertake the market-related responsibilities and safeguard the principle of "Justice, Fairness and Openness" for protecting legal rights and interests of investors. In addition, they should assume social responsibilities and set up the concept of being honest, keeping faith, complying with laws and regulations, loving the country and the people, helping the poor and contributing to eco-protection.
"Securities companies shoulder weighty responsibilities in investor protection. They are obliged to guide rational investment and value investing", said Deputy Director Cai Jianchun of the ZSRB, who put forward four suggestions on securities companies' guidance for rational investment. According to Cai, securities companies will strive to build business departments into the wealth management centers of investors by defining the departments' functions. Besides, they need attach great importance to the investor education so as to achieve a win-win situation for the sustainable development of investors, the capital market and themselves. Moreover, they should strictly implement the investor suitability management system by selling suitable products to suitable persons in suitable ways. Furthermore, they will broaden their minds and promote the innovation to improve the services for investors.
It is an objective demand that securities companies should implement the investor suitability management and guide rational investment and value investing for cultivating stable clients and elevating their core competitiveness. In this regard, Deputy Director Li Liguo of the NSRB also proposed three suggestions as follows. Firstly, securities companies need make efforts on risk evaluation and risk classification for investors and products, and meanwhile apply the requirements of the suitability management to various systems. Secondly, they need conduct the investor education on securities products especially innovative products to facilitate investors' correct understanding of the products and guide rational investment. Finally, they will intensify the survey research on investors and timely report investors' claims.
The SSE, by cooperating with the five securities regulatory authorities in Shanghai, Beijing, Chongqing, etc., has successively held the training classes for guiding rational investment, with the trainees up to over 1,500.
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Shanghai Stock Exchange Endeavors To Guide Rational Investment
Date 21/06/2012