Legal analysis: The provisions on real-name registration system of securities accounts and engaging in securities business without permission have damaged the legitimate rights and interests of investors and seriously disrupted the order of the securities market. It may endanger the smooth operation of the stock market again and must be cleaned up and rectified. The following opinions are put forward on relevant matters: China Securities Depository and Clearing Corporation should strictly implement the real-name registration system of securities accounts in accordance with the provisions of Article 166 of the Securities Law, further strengthen the management of securities accounts, and strengthen the inspection of the opening and use of accounts of specialized institutions. It is forbidden for account holders to conduct securities trading through sub-accounts, sub-accounts and virtual accounts under securities accounts in violation of regulations. All securities companies shall, in accordance with Article 28 of the Regulations on the Supervision and Administration of Securities Companies and the Rules on the Administration of Securities Accounts, examine the authenticity of the names or identities declared by customers when they open securities accounts for their customers, so as to ensure that the names of the capital accounts and securities accounts opened by the same customers are consistent. A securities company shall not provide its clients' capital accounts and securities accounts to others for use.
Legal basis: Article 7 of the Securities Law of People's Republic of China (PRC). The State Council Securities Regulatory Authority shall exercise centralized and unified supervision and management over the national securities market according to law. The State Council securities regulatory authority may set up representative offices as required to perform supervision and management duties as authorized.