10 times capital allocation platform against the wind! Ten thousand people in the live room watched online, and the regulatory authorities warned of the risks of pig killing and virtual disks

category:Finance
 10 times capital allocation platform against the wind! Ten thousand people in the live room watched online, and the regulatory authorities warned of the risks of pig killing and virtual disks


The reporter entered the Zhongtian live online studio on the same day, and the platform was still playing normally, with 10000 people online.

The picture is: real time screenshot of Zhongtian online website

The reporter added Zhongtian online assistant QQ to listen to the class as a tourist.

Photo source: QQ screenshot

In addition to Zhongtian online, recently, many securities regulatory bureaus have publicized the blacklist of over-the-counter capital allocation, and a number of over-the-counter capital allocation platforms are listed among them, most of which are lured by providing high leverage capital allocation.

Earlier, on July 8, China Securities Regulatory Commission (CSRC) exposed a list of 258 platforms and their operating agencies illegally engaged in over-the-counter capital allocation.

The regulatory authorities pointed out that over-the-counter capital allocation refers to the activity of lending funds to investors at a ratio several times higher than the margin paid by investors, organizing investors to use borrowed funds and margin in specific securities accounts for stock trading, and to collect interest, fees or income sharing. The objects of rectification include capital allocation agencies, software development companies, securities companies, securities account lenders and borrowers, fund providers, etc.

In general, the behavior patterns mainly include:

1. System sub warehouse mode. It mainly refers to that the securities account is divided into several virtual trading sub accounts by means of account sub warehouse system, and is provided to investors for stock capital allocation transaction.

3. Virtual capital allocation mode. It mainly refers to the virtual stock trading system used by the intermediary agencies to organize investors to carry out stock allocation transactions. The trading orders and funds of investors did not actually enter the securities trading system.

4. Point purchase and capital allocation mode. It mainly instructs the buyer (i.e. the fund demander) to provide the stock trading strategy, and the investor (i.e. the fund provider) provides the capital allocation fund and the securities account. The two sides carry out the stock allocation transaction after matching by the capital allocation intermediary, and share the investment income according to the agreement.

It is worth noting that the regulatory authorities have recently warned against virtual disk financing scams.

Photo source: Referee document website

After identification, the platform has no data exchange with the stock exchange, there is no real stock trading behavior, and the background has the function of modifying and preventing profit points.

The regulatory authorities remind us to be alert to the virtual disk financing scam. We can identify whether it belongs to the virtual disk financing scam from the following characteristics: first, focus on the promotion of low interest handling fees, such as low interest capital allocation, fast cash out, simple operation, etc.; second, it is impossible to query the delivery slip; third, many websites of virtual disk are composed of pure numbers, and most servers are overseas; fourth, virtual disk network Station cant trade online on the official website, the platform customer service will tell you to download the software to trade; fifthly, the fund is required to be put into an individual or company account.

Photo source: SFC website

Continue to promote the normalization of off-site capital allocation

Since 2015, China Securities Regulatory Commission (CSRC) began to vigorously rectify the over-the-counter capital allocation. At present, it has punished many companies and repeatedly warned investors to stay away from capital allocation.

The CSRC pointed out that according to the newly revised Securities Law, securities margin trading is the exclusive business of securities companies. Without the approval of the CSRC, no unit or individual is allowed to operate. In essence, the over-the-counter capital allocation activities belong to the securities margin trading business that only the securities companies can carry out according to law. If the relevant institutions or individuals engage in the off-site capital allocation activities without obtaining the corresponding securities business operation qualifications, they will constitute illegal securities business activities, and they will be investigated for legal liabilities according to law.

In November 2019, the Supreme Peoples Court issued the minutes of the national courts civil and commercial trial work conference. On the basis of emphasizing the illegality of off-site capital allocation, the Supreme Peoples court made it clear that the off-site capital allocation contract is invalid contract, and the participants of off-site capital allocation will bear relevant risks and responsibilities.

Editor: Li Ruoyu, Zheng Yasuo