In recent years, some stock market "Darkmouth" used Weibo, WeChat and other media, abused social influence, fabricated and disseminated false information, illegally engaged in investment consulting business, misled investors to participate in trading, and made illegal profits, which seriously disrupted the information dissemination and fair trading order in the capital market. To this end, the new "Securities Law" has made targeted norms:
First, expand the scope of supervision. The former Securities Law stipulated that the object of application was "state functionaries, media practitioners and related personnel", while the new Securities Law expanded the scope of subjects from special subjects to general subjects, and prohibited any unit or individual from fabricating or disseminating false or misleading information to disrupt the securities market.
The second is to emphasize the prohibition of misleading. Standardize all kinds of media behavior, require the media to disseminate real and objective information on the securities market, and prohibit misleading;
The third is to prevent conflicts of interest. The media and their staff engaged in information reporting on the securities market shall not engage in securities trading that conflicts with their job responsibilities.
Fourth, strengthen the responsibility constraint, fabricate or disseminate false or misleading information, disrupt the securities market, and cause losses to investors, they shall be liable for compensation according to law, and the regulatory authorities may also impose administrative penalties such as confiscation of illegal income or fines.