On November 23, 2024, around the core topic of “hot and difficult issues of financial crime defense”, the seminar on hot and difficult issues of financial crime defense was successfully held in Beijing, and Mr. Wang Jiaming, partner of Beijing King&Capital Law Firm and Doctor of Laws, was invited to participate in the seminar and made a speech on the topic of “Criminal and Civil Practice Issues of Listed Companies and Experiences of Handling Cases”. The seminar was organized by Beijing Lawyers Law Research Center.

This seminar was guided by Beijing Lawyers Law Research Association, hosted by Beijing Yinghe Law Firm, and co-organized by Criminal Case Research Institute of Shanghai Dehe Hantong Law Firm. 15 senior criminal defense lawyers conducted in-depth discussions on the research of financial crime cases and the results of the class crime defense from the four themes of financial crime defense thinking, defense of financial fraud, defense of financial crimes in insurance and defense of related financial crimes, and contributed a lot of cutting-edge insights and practical experience. and practical experience.

Mr. Zhou Lei, Director of Criminal Practice Center of Beijing Yinghe Law Firm, Director of Criminal Practice Committee of Digital Yinghe (National), Doctor of Laws and Postdoctoral Fellow, delivered a speech as the organizer.

Mr. Wang Jiaming pointed out in his keynote speech that in the current “strict supervision and zero tolerance” capital market law enforcement activities, listed companies, as the core regulated subjects, should especially prudently regulate their own business activities. The most typical, in many listed companies in the equity merger and acquisition of betting transactions, due to the financial fraud of the merged enterprise, resulting in the listed company was contractually defrauded, resulting in extremely serious financial losses. However, according to the current practice of the Securities and Futures Commission on the supervision of listed companies, the listed company has become a victim of criminal contract fraud cases, but also to bear the next possible violations of the letter disclosure problem, if the process involves the issuance of bonds, but also to bear the responsibility of fraudulent issuance accordingly. Therefore, how to balance and take into account the governance effect on the listed company, combat strength and protection of the spirit, is the problem that should be further thought.

In addition, Mr. Wang also shared his views on the evidence standard, evidence effect and defense points in insider trading and securities market manipulation cases. Mr. Wang suggested that, in the case of insider trading and securities market manipulation securities crime, as it belongs to the nature of administrative offense, according to the current practice of the practice is that the securities supervision department as an administrative authority to intervene first, and after the completion of the administrative investigation, if it reaches the amount of criminal recourse, then it will be transferred to the public security organs for judicial processing. But in fact, the administrative and criminal procedures of the standard of proof, the effectiveness of evidence are different, administrative procedures using “objective attribution of responsibility” principle, criminal cases pursue the “subjective and objective consistency principle”, which gives rise to subjective evidence of the difference, for securities The transfer of administrative cases for securities violations, if the “administrative standard of proof” transfer, will lead to insufficient evidence of subjective violations of the law, will still be transferred to the criminal process, and in the criminal process of the custodial environment, the authorities have a natural advantage in obtaining confessions, combined with the securities supervision department for the violation of the recognized objective evidence , which is almost impeccable, resulting in less room for criminal defense. Therefore, the fixing of evidence standards and the clarification of transfer standards are also issues that should be focused on in securities administrative and criminal cases.

The success of this seminar demonstrated the vitality and professionalism in the field of financial crime defense, built a platform for legal experts and lawyers to exchange ideas and share experiences, and became a bridge to promote the combination of legal practice and theoretical research. In the future, King&Capital lawyers will continue to deepen their specialization, improve their professional skills, strengthen communication and learning with legal professionals, actively adapt to the development requirements of the new era, and contribute to the construction of national rule of law with the power of King&Capital.