Category: Money tips Release Date: 2006-05-07
Nanjing Li 100 on behalf of the Investment Advisory Co., Ltd. has a large number of sales of the "initial", and then the sudden disappearance of data for company executives
Illicit enrichment tricks one after another stock market "fighting" to be heavy blows
In recent years, some of China's underground property rights trading market has been very active, a number of organizations or individuals to promote the "initial" and other money-making phenomena occur. Previously, this newspaper has launched the "the" initial "lie shattered profit 100 generation vanished" (see December 2005 report on 16 version A3), the Nanjing-li 100 on behalf of the Investment Advisory Co., Ltd. sold a large number of the "initial", and the company executives suddenly disappeared, and so on coverage. More recently, with the stock market activity, similar to the phenomenon of the revival there. To this end, special edition newspaper report issued this group, hoping to contribute to the general investors to see through deception.
Constantly being laid bare, and they constantly repeat itself. Investors desire to use "flourishes" mentality sell "to be overseas-listed shares" Yu speech is more intense in recent scams.
According to the description of those who sell, in order to achieve the "flourishes" is actually very simple: just buy the forthcoming initial offerings in overseas listed companies, and then can easily sit on its listing at least several times profits. Which are behind "The Myth" and sell those, then the use of illegal distribution and illegal securities activities, wantonly swallowed Lost and Delirious investors present a free lunch.
For sell "shares to be listed overseas," whether the conduct is unlawful activities are mainly from two aspects can be identified. In illegal activities, is divided into the illegal distribution and illegal securities in two ways.
The subjects of the illegal distribution company or the shareholders of the Company, through the fabrication will be available in the country and even abroad, performance excellence, rewarding and behavior of their establishment and issuance of securities has been approved by the Government and other false information, without the statutory authority for approval, using various forms of , unauthorized public offering of securities or transfer of shares to shareholders of the way public offering of securities in disguise.
Experts point out that the transfer of shares of shareholders in the form of a relatively public offering is covert, not easily detected by investors. In fact, the majority shareholders to the transfer of shares is not a specific behavior, has been in effect constitutes a public offering, was illegal. Generally speaking, shareholders in the private equity transfer, but must take the form of one to one.
The main body of the illegal securities activities, securities principal is not qualified intermediaries. Intermediary organizations such as the huge profits to "securities investment consulting company", "property broker" and the name, to shareholders of listed companies is not an agent or financial adviser status, through advertising, radio, telex messages, letters, telephone published and other forms of illegal trading of unlisted stocks agent.
Experts say the securities business as a licensed industry, want to get a securities intermediary qualification must be approved by the SFC's approval was a legal status. At present, a "proposed overseas listing of shares to" sell the activities of intermediary institutions, basically do not have legal status.
In addition to the main issue is not illegal, the company's shareholders to transfer their shares through intermediaries in the form of itself unlawful. In accordance with securities law, company law provides that the shareholders to transfer their shares, should be established by law or the Securities and Exchange sites provided by the State Council and other manner.
Up to now, in addition to Shanghai, Shenzhen Stock Exchange, Securities Association of China stock transfer agent system belongs to the State Council, approved by the Securities and Exchange places outside the State Department did not approve any securities trading venue for trading of property rights over the name of the establishment of property rights trading center shall not engage in securities trading activities.
Insiders pointed out that at present, some local property rights trading center of the non-standard business practices, to a certain extent, increased the difficulty of identifying the illegal transfer of shares. In particular, he reminded investors of property rights trading center's function is to conduct property transactions, registration services, but not for auction, lending, matching, and stock transfer services.
