Lawyer

Chapter 859 You Are Too Good!

"I have done a lot of securities criminal cases, and I have some experience. Let me tell you my thoughts..." Attorney Zhao paused pretentiously, picked up his teacup, and took a sip.

Seeing how the two behaved, Fang Yi felt that the old professor and Lawyer Zhao must have discussed it on the way here, and the relationship between the two must be unusual.

What Fang Yi didn't know was that Lawyer Zhao was the lawyer from Beijing who was introduced to grab the case, and the professor from Beijing was also an expert recommended by Lawyer Zhao, who came here to cooperate with Lawyer Zhao.

As the saying goes, everyone lifts the sedan chair, no matter what the professional ability is, it is always good for someone to lift it, and it is also a good way to pretend to fool the parties.

Lawyer Zhao is like a proud big rooster. He thinks he is well-informed and has strong professional skills, so he doesn't take local lawyers seriously.In fact, it's no wonder that Lawyer Zhao is so arrogant. Taking advantage of the geographical advantages of the capital, he has indeed seen more types of business.

"... I think that the defendant in this case constituted the crime of illegal business operation, and the direction of defense in the first instance was wrong. The reasons are:

[-]. As far as I know, the securities business is divided into securities core business and securities extension business. The core business includes securities underwriting, securities self-operation, securities brokerage, etc., and the extension business is the business generated around securities issuance and exchanges in addition to the core business. , such as securities investment consulting, financial consulting, asset management, etc.

Since the "Securities Law" came into effect on July 1999, 7, the "securities business" stipulated in the law includes both core business and outreach business.

Since the securities market implements a securities business licensing system, only securities companies approved by the securities regulatory agency of the State Council can operate securities business, and no other units or individuals are allowed to operate securities business.

In this case, after the defendants Gui Hanxin and Ai Shicai set up an investment company, they sold stocks for five unlisted joint-stock companies, with as many as 300 investors.

In my opinion, this kind of behavior has the substantive characteristics of "securities underwriting" in the core business of securities. It is underwriting securities in disguise, so it can be regarded as "operating securities business".

At the same time, because the investment company established by the defendant has not obtained the securities business license issued by the China Securities Regulatory Commission, its unauthorized sales of stocks of non-listed companies violated the Securities Law and constituted illegal securities business.

Second, subdividing and transferring the equity of non-listed companies is not a legal property rights transaction.

It is generally believed that property rights include property rights, creditor's rights, equity, intellectual property rights and other property rights.Property right transaction is the act of paid transfer of the property rights legally owned by the property right subject through the property right transaction market.

According to the provisions of the "Company Law", the shares of a joint stock limited company established by way of initiation are registered shares, and shareholders must transfer registered shares at a legally established securities trading place, and shall do so in the form of endorsement or other methods prescribed by laws and administrative regulations. transfer.

The only securities trading venues established according to law before are the Shanghai Stock Exchange and the Shenzhen Stock Exchange, and these two exchanges only carry out the share transfer business of listed companies.

In view of this, in order to solve the large number of non-listed companies' share transfer problems in practice, the common practice in various places is to formulate local regulations or rules to allow the transfer of the shares of non-listed companies in the property rights exchange.

Later, the New Third Board was established. I personally think that the positioning of the New Third Board is mainly to provide high-quality enterprises for the main board market, and its own liquidity is the biggest problem.Of course, this is all off-topic (subtext: I understand the securities market, but you don’t)
In this case, the defendant’s act of transferring the equity of four unlisted joint-stock companies in SX Province as an agent has the nature of property rights transactions to a certain extent.

By the way, about the 'demolition and transfer', I wonder if you have any contact with it? "

Lawyer Zhao put on an attitude of superiority. If he is not in the securities business, or has not done related cases, he must be confused about the term "subdivided transfer".

The reason why Lawyer Zhao asked this question was because he wanted to overwhelm everyone and let Mr. Gui see his expertise, and secondly, he wanted to bring this case over.

Lawyer Liu who was sitting in front had an uneasy face. Although he was unhappy, money was in the hands of slaves, and art was in the hands of pedestrians. He really didn't know about the issue of dismantling and transferring that Lawyer Zhao raised.Because he had never done this kind of business at all, before the court judged, he always felt that there was nothing wrong with the business of Gui Hanxin and Ai Shicai.

Among the three local lawyers who came to the seminar this time, apart from Fang Yi, who was recommended by Mr. Gui, the other two lawyers were recommended by Lawyer Liu, and they are both experienced criminal defense lawyers.

But the problem is that these two lawyers who didn't expect to come from the capital raised such a question that has nothing to do with the law. They have never contacted this business before.The two exchanged glances and had to remain silent.

Fang Yi saw this word yesterday when he checked the information, and paid a little attention to it, but to be honest, he has never been in contact with this business, so in order to avoid making a fool of himself, he didn't say anything.

"Is the concept of 'demolition and transfer' important to this case?" Attorney Liu was a little embarrassed and asked casually.

"Well, it's very important, because the defendant's behavior is splitting and transferring the shares of a non-listed company. Understanding this definition is conducive to the characterization of this case." Lawyer Zhao replied firmly.

His attitude made Lawyer Liu even more uncomfortable. Lawyer Liu felt that he seemed to be laughing at himself, as if saying: You don't even know this concept, you are too bad!

Lawyer Zhao saw that no one of the three local criminal defense lawyers spoke, so he deliberately showed off, making the local lawyers turn their eyes wide, so he wanted to ask any lawyer at random.He swept away the crowd, just in time to see Fang Yi who was diagonally opposite.

"Lawyer Fang, I don't know if you have contacted him.

Let's discuss it together, and please bear with me if there is anything I can't say. "Lawyer Zhao's words were quite polite, but his tone was not very polite.

Fang Yi felt very displeased when he saw the other party pointing at his head, but it was impossible not to say anything, so he put on a very modest attitude: "I have never been in touch with the illegal securities business you mentioned. In fact, the defendant This kind of business done by people has only increased with the development of the securities market in recent years.

Especially after the emergence of the New Third Board, many people bought and sold original stocks, which led to confusion in the market, making it difficult to distinguish true from false.That's why this crime happens.

As I understand it, the split transfer of shares generally means that a listed company expands its total share capital or directly lowers its stock price proportionally after sending or transferring shares, splitting high prices into low-priced stocks, which can facilitate the intervention of some small shareholders.

For example, if a stock split is carried out in the form of a ten-for-one split, the stock price of each share will be one-tenth of the original value after the stock split, and the par value of each share will also be one-tenth of the original value.After the stock split, it will indirectly send a positive message to investors, and the company's stock price will continue to rise..." Fang Yi tried hard to recall what he found on the Internet yesterday.

(End of this chapter)