中證網(wang)(wang)訊（記者(zhe) 胡(hu)雨）據中國證券(quan)業(ye)協(xie)會(hui)(hui)(hui)（以下(xia)(xia)簡(jian)稱(cheng)協(xie)會(hui)(hui)(hui)）2月17日消息，為配合做好全面實行(xing)(xing)股(gu)票發行(xing)(xing)注冊(ce)制改革工作(zuo)，進一(yi)步加強證券(quan)公(gong)司證券(quan)承銷(xiao)(xiao)業(ye)務和(he)(he)網(wang)(wang)下(xia)(xia)投(tou)(tou)資(zi)(zi)者(zhe)自(zi)(zi)律(lv)管(guan)理(li)，協(xie)會(hui)(hui)(hui)在廣泛征求行(xing)(xing)業(ye)意(yi)見的基礎上，于今日正式(shi)發布(bu)《首(shou)次公(gong)開(kai)發行(xing)(xing)證券(quan)承銷(xiao)(xiao)業(ye)務規(gui)(gui)(gui)(gui)則(ze)》《首(shou)次公(gong)開(kai)發行(xing)(xing)證券(quan)網(wang)(wang)下(xia)(xia)投(tou)(tou)資(zi)(zi)者(zhe)管(guan)理(li)規(gui)(gui)(gui)(gui)則(ze)》《首(shou)次公(gong)開(kai)發行(xing)(xing)證券(quan)網(wang)(wang)下(xia)(xia)投(tou)(tou)資(zi)(zi)者(zhe)分(fen)(fen)類評價(jia)(jia)和(he)(he)管(guan)理(li)指引》《北(bei)京證券(quan)交(jiao)易所股(gu)票向不特定合格投(tou)(tou)資(zi)(zi)者(zhe)公(gong)開(kai)發行(xing)(xing)并上市網(wang)(wang)下(xia)(xia)投(tou)(tou)資(zi)(zi)者(zhe)管(guan)理(li)特別規(gui)(gui)(gui)(gui)定》等四(si)項自(zi)(zi)律(lv)規(gui)(gui)(gui)(gui)則(ze)（以下(xia)(xia)分(fen)(fen)別簡(jian)稱(cheng)《證券(quan)承銷(xiao)(xiao)業(ye)務規(gui)(gui)(gui)(gui)則(ze)》《首(shou)發證券(quan)網(wang)(wang)下(xia)(xia)投(tou)(tou)資(zi)(zi)者(zhe)管(guan)理(li)規(gui)(gui)(gui)(gui)則(ze)》《網(wang)(wang)下(xia)(xia)投(tou)(tou)資(zi)(zi)者(zhe)分(fen)(fen)類評價(jia)(jia)和(he)(he)管(guan)理(li)指引》《北(bei)交(jiao)所特別規(gui)(gui)(gui)(gui)定》）。同時(shi)，經協(xie)會(hui)(hui)(hui)會(hui)(hui)(hui)長辦公(gong)會(hui)(hui)(hui)審議通過(guo)，協(xie)會(hui)(hui)(hui)還配套發布(bu)了《自(zi)(zi)律(lv)規(gui)(gui)(gui)(gui)則(ze)適用意(yi)見第5號(hao)――關(guan)于<首(shou)次公(gong)開(kai)發行(xing)(xing)證券(quan)網(wang)(wang)下(xia)(xia)投(tou)(tou)資(zi)(zi)者(zhe)分(fen)(fen)類評價(jia)(jia)和(he)(he)管(guan)理(li)指引>有關(guan)規(gui)(gui)(gui)(gui)定的適用意(yi)見》（以下(xia)(xia)簡(jian)稱(cheng)《適用意(yi)見》）。  

　　《證券(quan)(quan)承(cheng)(cheng)(cheng)(cheng)(cheng)銷(xiao)(xiao)(xiao)(xiao)業(ye)務(wu)(wu)規(gui)則》根據《證券(quan)(quan)發(fa)(fa)行(xing)(xing)(xing)與承(cheng)(cheng)(cheng)(cheng)(cheng)銷(xiao)(xiao)(xiao)(xiao)管(guan)(guan)理(li)辦(ban)法(fa)》《北京證券(quan)(quan)交易(yi)所向不特定合(he)格投(tou)資者公開發(fa)(fa)行(xing)(xing)(xing)股票注(zhu)冊(ce)(ce)管(guan)(guan)理(li)辦(ban)法(fa)》等相(xiang)(xiang)關(guan)(guan)(guan)規(gui)定，統一(yi)注(zhu)冊(ce)(ce)制(zhi)下各板(ban)(ban)塊(kuai)發(fa)(fa)行(xing)(xing)(xing)承(cheng)(cheng)(cheng)(cheng)(cheng)銷(xiao)(xiao)(xiao)(xiao)規(gui)則，形成(cheng)簡明清晰的證券(quan)(quan)公司承(cheng)(cheng)(cheng)(cheng)(cheng)銷(xiao)(xiao)(xiao)(xiao)業(ye)務(wu)(wu)自(zi)(zi)律(lv)管(guan)(guan)理(li)規(gui)則體系，落(luo)實注(zhu)冊(ce)(ce)制(zhi)改革監管(guan)(guan)轉型要(yao)求(qiu)(qiu)，總結(jie)吸收科(ke)創板(ban)(ban)、創業(ye)板(ban)(ban)注(zhu)冊(ce)(ce)制(zhi)試點(dian)中發(fa)(fa)行(xing)(xing)(xing)承(cheng)(cheng)(cheng)(cheng)(cheng)銷(xiao)(xiao)(xiao)(xiao)業(ye)務(wu)(wu)自(zi)(zi)律(lv)管(guan)(guan)理(li)實踐經(jing)驗(yan)，加強承(cheng)(cheng)(cheng)(cheng)(cheng)銷(xiao)(xiao)(xiao)(xiao)商自(zi)(zi)律(lv)管(guan)(guan)理(li)。明確承(cheng)(cheng)(cheng)(cheng)(cheng)銷(xiao)(xiao)(xiao)(xiao)商路演推介(jie)相(xiang)(xiang)關(guan)(guan)(guan)要(yao)求(qiu)(qiu)，細化發(fa)(fa)行(xing)(xing)(xing)與配售等規(gui)定，明確投(tou)資價值研究報告的撰寫、提供(gong)方(fang)式(shi)、相(xiang)(xiang)關(guan)(guan)(guan)制(zhi)度等要(yao)求(qiu)(qiu)，切實提高報告質量，促進(jin)形成(cheng)市場化發(fa)(fa)行(xing)(xing)(xing)承(cheng)(cheng)(cheng)(cheng)(cheng)銷(xiao)(xiao)(xiao)(xiao)機制(zhi)，進(jin)一(yi)步規(gui)范(fan)(fan)證券(quan)(quan)公司承(cheng)(cheng)(cheng)(cheng)(cheng)銷(xiao)(xiao)(xiao)(xiao)行(xing)(xing)(xing)為。此外，引導承(cheng)(cheng)(cheng)(cheng)(cheng)銷(xiao)(xiao)(xiao)(xiao)商積極承(cheng)(cheng)(cheng)(cheng)(cheng)擔社(she)會責任，規(gui)范(fan)(fan)承(cheng)(cheng)(cheng)(cheng)(cheng)銷(xiao)(xiao)(xiao)(xiao)業(ye)務(wu)(wu)收費。

　　《首(shou)發證(zheng)券(quan)(quan)(quan)網(wang)(wang)(wang)(wang)下(xia)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)者(zhe)管(guan)理規(gui)則》充(chong)(chong)分(fen)(fen)吸收(shou)借鑒科(ke)創(chuang)板(ban)(ban)(ban)和創(chuang)業(ye)板(ban)(ban)(ban)網(wang)(wang)(wang)(wang)下(xia)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)者(zhe)管(guan)理先進(jin)經驗和實(shi)踐(jian)(jian)做法，結合(he)當(dang)(dang)前市場環境(jing)、投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)者(zhe)結構(gou)、業(ye)務(wu)實(shi)際和自律管(guan)理實(shi)踐(jian)(jian)，對證(zheng)券(quan)(quan)(quan)交(jiao)易(yi)所各(ge)板(ban)(ban)(ban)塊首(shou)發證(zheng)券(quan)(quan)(quan)網(wang)(wang)(wang)(wang)下(xia)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)者(zhe)管(guan)理作(zuo)出統(tong)一(yi)規(gui)定。通過(guo)(guo)優化完(wan)善事前網(wang)(wang)(wang)(wang)下(xia)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)者(zhe)的注(zhu)冊條件、強化事中報價(jia)行(xing)為(wei)管(guan)理，引導網(wang)(wang)(wang)(wang)下(xia)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)者(zhe)積(ji)極發揮專業(ye)研(yan)究定價(jia)能力，充(chong)(chong)分(fen)(fen)發揮網(wang)(wang)(wang)(wang)下(xia)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)者(zhe)價(jia)格發現的核(he)心關鍵作(zuo)用(yong)，促(cu)進(jin)市場化定價(jia)機制有效運(yun)行(xing)；通過(guo)(guo)壓實(shi)證(zheng)券(quan)(quan)(quan)公司(si)作(zuo)為(wei)推薦(jian)券(quan)(quan)(quan)商(shang)、經紀商(shang)、托(tuo)管(guan)機構(gou)、主(zhu)承銷商(shang)在(zai)網(wang)(wang)(wang)(wang)下(xia)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)者(zhe)適當(dang)(dang)性管(guan)理、資(zi)(zi)(zi)產規(gui)模核(he)查、信息報送等(deng)方(fang)面的責任，督促(cu)各(ge)方(fang)主(zhu)體(ti)歸位盡(jin)責，做好網(wang)(wang)(wang)(wang)下(xia)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)者(zhe)教(jiao)育服務(wu)、核(he)查監(jian)測等(deng)工作(zuo)；通過(guo)(guo)細化禁(jin)止性行(xing)為(wei)種類、優化違規(gui)行(xing)為(wei)處理、完(wan)善自律措施(shi)(shi)實(shi)施(shi)(shi)程序，在(zai)充(chong)(chong)分(fen)(fen)保護網(wang)(wang)(wang)(wang)下(xia)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)者(zhe)合(he)法權益的前提(ti)下(xia)，對違規(gui)行(xing)為(wei)進(jin)行(xing)嚴肅(su)懲戒，積(ji)極維護網(wang)(wang)(wang)(wang)下(xia)發行(xing)秩序，凈(jing)化網(wang)(wang)(wang)(wang)下(xia)發行(xing)生態。

　　《網下(xia)(xia)投(tou)資者(zhe)分類評價(jia)(jia)和管(guan)理指引》明確將(jiang)證券交易所(suo)各(ge)板塊(kuai)網下(xia)(xia)投(tou)資者(zhe)全(quan)部納入(ru)名單管(guan)理，并同步(bu)調整了關注名單和限制名單的具體情形以及精(jing)選名單的申報條(tiao)件，通過建立網下(xia)(xia)投(tou)資者(zhe)跟蹤評價(jia)(jia)體系，加強(qiang)網下(xia)(xia)投(tou)資者(zhe)報價(jia)(jia)行為管(guan)理，構建優勝劣汰的網下(xia)(xia)投(tou)資者(zhe)生(sheng)態(tai)環(huan)境。為做(zuo)好(hao)規則的實施適用，協(xie)會(hui)還配套發布了《適用意見》，對《網下(xia)(xia)投(tou)資者(zhe)分類評價(jia)(jia)和管(guan)理指引》有(you)關條(tiao)款(kuan)的適用問題予以明確。

　　在此基礎上，《北(bei)(bei)交(jiao)所(suo)特(te)別規定》對北(bei)(bei)京(jing)證(zheng)券交(jiao)易所(suo)股票(piao)向不(bu)特(te)定合格投(tou)資(zi)者公開發行(xing)并上市網下投(tou)資(zi)者的注(zhu)冊條件(jian)和(he)行(xing)為規范(fan)作出差(cha)異(yi)化安(an)排，進一步提高北(bei)(bei)京(jing)證(zheng)券交(jiao)易所(suo)股票(piao)公開發行(xing)并上市網下投(tou)資(zi)者自律管理的針對性和(he)有效性。

　　下(xia)一步，協會將通(tong)過(guo)組織(zhi)開展行(xing)(xing)業培訓等形式(shi)，對相(xiang)關(guan)規(gui)則進行(xing)(xing)解讀宣講，并通(tong)過(guo)發布配(pei)套工作通(tong)知等方式(shi)，對規(gui)則發布實施等相(xiang)關(guan)工作安排予以(yi)明確，積極引導(dao)行(xing)(xing)業持(chi)續規(gui)范開展證券發行(xing)(xing)承銷工作，指導(dao)和督促網下(xia)投資者有序參(can)與網下(xia)詢價和配(pei)售業務，共(gong)同維護網下(xia)發行(xing)(xing)秩序，塑造良好網下(xia)發行(xing)(xing)生(sheng)態環境。