On the morning of December 8, 2023, "Seminar on Arbitration Helps Prevent Financial Legal Risks in Shanghai Securities Industry" was held at the Shanghai Sub-Commission of CIETAC. The event was co-organized by the Shanghai Securities Association and the Shanghai Sub-Commission of CIETAC. Mr. Gu Yan, Vice President of CIETAC, Mr. Yu Feng, Secretary General of Shanghai Securities Association, Mr. Chen Wei, Deputy Director General of the Insurance Division of Shanghai Securities Regulatory Bureau, and Mr. Jia Shen, Secretary General of Shanghai Sub-Commission of CIETAC, were all in attendance. The experts and parties at the meeting conducted in-depth discussions and friendly exchanges around the theme "Arbitration Helps Prevent Financial Legal Risks in Shanghai Securities Industry".

During the meeting, vice President Mr. Gu Yan first introduced the development of CIETAC and the Shanghai Sub-Commission of CIETAC in recent years, and that of the Shanghai International Arbitration Center for Securities, Futures and Finance (SIACSFF) since its establishment. He highlighted the advantages of CIETAC's arbitration services in terms of its strong independence, high credibility, extensive network of branches, and up-to-date arbitration rules, among others. He emphasized that CIETAC has been following the principle of party autonomy, fully respecting the commercial agreement of the parties in accordance with the law. It has relied on industry experts to decide the cases to ensure the authority of the award and has maintained the fairness of the arbitration procedure through strict management of the arbitrators' team. According to Mr. Jia Shen, Secretary General of Shanghai Sub-Commission of CIETAC, their organization and SIACSFF would continue to promote the construction of a supportive business environment in Shanghai to establish its position as an international financial center. They are also dedicated to creating channels that allow for diversified dispute resolution mechanisms and providing a platform for professional communication and exchange of talents to minimize legal risk in the securities industry in Shanghai.

Secretary General Mr. Yu Feng pointed out that with the steady development of the securities market, the continuous innovation of financial products, such as securities derivatives, and the increasing awareness of investors' rights protection, the continuous rise of securities disputes is inevitable. This brings great challenges to the work of self-regulatory and judicial organizations in resolving these disputes. Arbitration is a dispute resolution mechanism that fits the high level of professionalism and efficiency required for securities disputes, and can provide legal services that make the diversified settlement of disputes among securities organizations possible. Secretary General Mr. Yu Feng proposed that both parties can utilize their professional advantages to help the securities industry perform better in preventing financial and legal risks in advance and resolving securities disputes by non-litigation means including publicizing typical cases and organizing senior arbitrators to exchange ideas and train together.

Deputy Director Mr. Chen Wei acknowledged the importance of diversified dispute resolution in promoting the healthy development of the capital market and the rule of law. He pointed out that arbitration, with its professional, confidential, and speedy features, has unique advantages in resolving large disputes in the capital market, and has been gradually recognized and accepted by the securities industry. As the financial market in China opens up to the rest of the world and the state encourages Chinese financial institutions to expand globally, arbitration is becoming an increasingly popular method of resolving cross-border disputes. It provides strong legal protection for offshore and cross-border financial transactions. The Shanghai Sub-Commission of CIETAC can leverage the accumulated experience and advantages of CIETAC, and strengthen the cooperation with securities institutions, protect the rights and interests of investors, and escort the construction of Shanghai as an international financial center.

In the exchange session, Mr. Chen Keming, Deputy Secretary General of Shanghai Securities Association, Mr. Ma Xiaoyong, General Manager of Human Resource Headquarters of Shenwan Hongyuan Securities and arbitrator of CIETAC, and Ms. Zhang Zhihong, Director of Compliance, General Counsel of Guotai Junan Securities and arbitrator of CIETAC, analyzed the prevention of legal risks in the securities industry as well as the characteristics and development trend of dispute resolution, and put forward several proposals to strengthen the cooperation between the arbitration and the securities industry on the basis of these proposals. Participating experts agreed that utilizing the professionalism, independence and confidentiality of arbitration would help empower the healthy development of the securities industry, and suggested that the cooperation be enhanced in terms of external publicity and professional training.

Relevant comrades from Shanghai Securities Regulatory Bureau, Shanghai Securities Association and CIETAC attended the seminar.