(1) "IQ". The first aspect is that you must have a considerable "IQ". Only with IQ understanding can you be excellent.
(2): "Emotional intelligence". You need to have a good "emotional intelligence" because doing securities business requires communicating with a large number of companies and other intermediaries. Communication skills are important. Only when you communicate well can you truly understand the real situation, do "listen, listen, ask" - do your due diligence. If the intermediary agency is willing to cooperate with you, can you make an accurate judgment and securities lawyers will accept their advice with sincerity. suggestion. Another reason is that they can be very confident about other intermediaries.
(3) "Understanding". Securities lawyers need to be smart and constantly understand a lot of things, because doing business now is different from doing business before. Unlike doing a certain type of business now, we can download templates from the Internet. In the early days, our network was underdeveloped. In the early 1990s, there were only a few books at most, and there were so many things that securities lawyers needed to ponder and ponder. If today's lawyers want to become an excellent lawyer, whether they are engaged in securities business or other businesses, they must consult some information, read, experience, comprehend, and ponder, so that they can improve quickly. I think the reason why some lawyers grow up is, to put it bluntly, because they don’t “realize” and don’t think deeply. If you want to be a good lawyer, you have to be careful. Actually everything is the same.
(4), "Gold product awareness". That is to say, they should have higher requirements for themselves. Securities lawyers must have a "golden product feel" when writing legal opinions and memoranda. A lawyer's work report is not like a cat painting a tiger. Just fill in the blanks according to that template. There are requirements in that template, and there are a lot of requirements for securities lawyers' due diligence. In fact, there is another thing. After you finish writing as a securities lawyer, you must read and revise it repeatedly in order to develop this good habit and gradually improve your ability to control words. Therefore, I think young securities lawyers must have “golden product awareness.”
(5) "Learning ability". On the one hand, China's securities laws and regulations are relatively complete, but on the other hand, they are also changing rapidly. From the early 1990s to the present, you can look at several stages of the securities market, including several major stages. In this large stage, there are changes at different stages, and the audit concept is also changing. The entire securities market is also constantly improving and improving. In fact, laws and regulations change very quickly, every year. For example, strictly speaking, the original securities law and the current securities law are two different laws. Although they are both called amendments, their legislative concepts and purposes are completely different. Therefore, if you want to do a good job in securities business, you must constantly track changes in this law and related regulations, and have a strong learning ability. The other is to do a good job in securities business, with a relatively strong and broad knowledge base. In an enterprise, all aspects need to be dealt with, and the requirements for knowledge are relatively wide, because the restructuring and listing of a company, including future refinancing, especially in the IPO stage, are full of many issues, such as land, real estate, intellectual property, labor , corporate law and tax issues, including financial subsidies, and many more detailed issues. For example, the form of the company is different. Originally, from a collective enterprise to a limited liability company and then to a joint-stock company, as a securities lawyer, you should have a deeper investigation of the relevant regulations and changes in the restructuring of collective enterprises and state-owned enterprises, because some companies have a long history, and some companies were established in the 1980s. Or some old state-owned enterprises date from the 1950s and 1960s, and you should understand these histories. Therefore, for securities lawyers, we should have extensive knowledge. Moreover, a securities lawyer’s ability to solve legal problems must be accurate. It cannot be said that there will be problems after due diligence is completed. I don't know this question. I'll have to go back and study it again. Of course, I can't say that there are no problems and give time to study. Some issues are unique and require research, but most require the knowledge and experience of the securities attorneys at the time to resolve them. Because clients invite securities lawyers as experts and professionals, of course they must have such strong professional knowledge and be able to quickly solve the problems they encounter. If you have all these aspects, I think it should be no problem to be an excellent securities lawyer.
(6) Eliminate "impetuousness". Most of us are neither the second generation of rich people nor the second generation of officials. In fact, we all came out of it through our own efforts. Becoming good or successful is a process. He needs to accumulate, needs to settle, and needs to persist in achieving his goals. Today's society is very impetuous, but I feel that being a lawyer is too anxious and impetuous to do well. He needs to be able to calm down and go to it.
One aspect of being a good lawyer is definitely to have good resources, but if there are no resources, your own quality must be sufficient. Even if the chairman of a company is familiar with you, if you are not familiar with the listing procedures and your skills are really not good, he will not dare to use you. For a company, going public once is also a milestone for it and a development milestone. my country Feng Securities has been in the industry for many years and has rich experience. Most clients choose us because of our professional knowledge, skills and background. Without these things, nothing else is possible. If a lawyer and a law firm want to be successful, they must continue to accumulate clients through hard work. Like a snowball, your customer base grows and your knowledge and skills grow stronger so that you can continue to move towards stability and success.
Nowadays, young lawyers have just come to work in our firm, and their remuneration is quite good. I tell them they were much happier when they first started practicing law than we were then. In the beginning they didn’t have the pressure of business sources because we had a lot of business that they needed to do and they didn’t need to grow the business. At that time we needed to develop our own business and do it ourselves. At that time we were happy to draft contracts for people and make thousands of dollars. We have come step by step. In fact, there is such a process. We didn't do very well in the beginning. I think it all depends on accumulation, experience and knowledge. This so-called customer resource also depends on accumulation. I think this is urgent. This is a process.
(7) Securities lawyers must be “responsible”. The legal regulations of the securities market are relatively complete, but there are still some shortcomings. For example, one of the obligations we require of securities lawyers is "diligence and due diligence." But as a securities lawyer, for example, when doing an IPO, to what extent is "diligence and due diligence" considered? Because "diligence" is related to the legal liability behind it, if a company has a problem, the intermediary must bear the responsibility. However, for example, whether a lawyer engaged in securities business is responsible or not depends on whether you are "diligent and conscientious." But frankly speaking, the boundaries of "diligence and conscientiousness" for lawyers engaged in securities business in my country are not clear enough yet, so often when something happens to a company, Unless it is typical, if there is no collusion between intermediaries and enterprises, of course it will involve criminal liability. If there are no big legal issues, I believe the lawyer should be fine. But sometimes when the boundaries are blurred, we notice that in the statement of the prospectus, the lawyer actually has to state many parts of the prospectus truthfully, accurately and completely. . In fact, this time, because we know that the reason why the IPO actually held the intermediary accountable was because the information disclosure was untrue, inaccurate, and incomplete, so at this time, when the boundaries are not clear, experienced lawyers are to a certain extent Do this. Me too. I love looking at businesses. After I arrive at a company, I must visit its entire production environment, understand its products, even its market, its management, etc., and be "diligently diligent." Now, since Principal Guo Shuqing took office, she has been talking about "returning to work." The three institutions that serve issuers: securities dealers, accountants, and lawyers "each perform their own duties," which places higher demands on all institutions, including our securities lawyers. If securities lawyers want to truly do their job well, they must be "responsible". This is the responsibility of securities lawyers. As the securities market becomes more market-oriented, the responsibilities of intermediaries will become increasingly strengthened, as will lawyers. So I think as long as the securities business develops well, the prospects of the securities legal services industry will be very good. China's securities market may have twists and turns in the future, but overall it will continue to grow and develop. So from this perspective, the securities market The prospects for the legal services industry are still very good. This field needs freshmen to join. The future securities legal services industry needs more lawyers to participate, and more younger lawyers to participate, because this will still be a continuous development process.
(8) Understand some "accounting knowledge". In fact, many legal issues and financial issues are mixed together in our securities business now. Nowadays, lawyers engaged in securities business should be able to understand at least three types of financial statements: balance sheet, income statement, and cash flow statement. Another one is to be able to understand the things in the notes to the accounting statements, including our equity incentives for the company, or a little bit of connection with finance.