Lawyer's character

"I have done a lot of securities-related criminal cases and have a little experience. Let me share my thoughts..." Lawyer Zhao paused in a very pretentious manner, picked up the teacup, and took a sip.

Looking at their behavior, Fang Yi felt that the old professor and Lawyer Zhao must have discussed it on the way here, and their relationship must be unusual.

What Fang Yi didn't know was that Lawyer Zhao was the lawyer from Beijing who was introduced to prepare for the case, and that the professor from Beijing was also an expert recommended by Lawyer Zhao and came specifically to cooperate with Lawyer Zhao.

As the saying goes, everyone carries the sedan chair. No matter how professional the person is, it is always good to have someone to carry it, or it is better to pretend to fool the person involved.

Lawyer Zhao is like a arrogant big rooster. He thinks he is well-informed and has strong professional skills, and he does not take local lawyers seriously. In fact, it's no wonder that Lawyer Zhao is so arrogant. With the geographical advantages of Beijing, he has indeed seen a lot of business types.

"...I believe that the defendant in this case committed the crime of illegal business operations and his defense direction in the first trial was wrong. The reasons are:

1. As far as I know, the securities business is divided into core securities business and extended securities business. The core business includes securities underwriting, securities self-operation, securities brokerage, etc. The extended business is the business generated around securities issuance and exchange in addition to the core business. , such as securities investment consulting, financial consulting, asset management, etc.

Since the "Securities Law" came into effect on July 1, 1999, the "securities business" stipulated in the law includes core business and extended business.

Since the securities market implements a securities business licensing system, only securities companies approved by the securities regulatory authority of the State Council can engage in securities business, and no other units or individuals are allowed to engage in securities business.

In this case, after the defendants Gui Hanxin and Ai Shicai established investment companies, they sold stocks as agents for five unlisted joint-stock companies with more than 300 investors.

In my opinion, this kind of behavior has the substantive characteristics of ‘securities underwriting’ in the core business of securities. It is underwriting securities in disguise, so it can be regarded as ‘operating securities business’.

At the same time, because the investment company established by the defendant did not obtain a securities business license issued by the China Securities Regulatory Commission, its unauthorized agent sales of stocks of unlisted companies violated the securities law and was an illegal securities business.

2. Subdividing and transferring the equity of an unlisted company is not a legal property rights transaction.

It is generally believed that property rights include various property rights such as property rights, creditor's rights, equity, and intellectual property rights. Property rights transaction is the act of transferring the property rights legally owned by the property rights subject for a fee through the property rights trading market.

According to the "Company Law", the stocks of a joint-stock company established by sponsorship are registered stocks. Shareholders must transfer registered stocks at a securities trading place established in accordance with the law, and must do so by endorsement or other methods stipulated by laws and administrative regulations. transfer.

Previously, the only securities trading venues established by law were the Shanghai Stock Exchange and the Shenzhen Stock Exchange, and these two exchanges only carried out the share transfer business of listed companies.

In view of this, in order to solve the problem of the large number of share transfers of unlisted companies in practice, a common practice in various places is to formulate local laws or regulations to allow the transfer of the equity of unlisted companies on equity exchanges.

Later, the New Third Board was established. I personally believe that the New Third Board is mainly positioned to transport high-quality companies to the main board market. Its own liquidity is the biggest problem. Of course, this is all off topic (subtext: I understand the securities market, but you don’t)

In this case, the defendant's act of acting as an agent to transfer the equity of four unlisted joint-stock companies in SX Province was of the nature of property rights transactions to a certain extent.

By the way, regarding ‘dividing and transferring’, have you ever had any contact with it? "

Lawyer Zhao assumed a superior attitude. If you are not exposed to the securities business or have never done related cases, you will definitely be confused about the term "subdivision transfer".

The reason why Lawyer Zhao asked this was, firstly, he wanted to overpower everyone and let Mr. Gui see his expertise, and secondly, he wanted to take over the case.

Lawyer Liu, who was sitting in front, had an unhappy face. Although he felt unhappy, money was more important than slaves and art was more important than ordinary people. He really didn't know about the subdivision and transfer issue raised by Lawyer Zhao. Because he had never done this kind of business at all, before the court ruling, he always felt that there was nothing wrong with the business done by Gui Hanxin and Ai Shicai.

Among the three local lawyers who came to the seminar this time, except Fang Yi, who was recommended by Mr. Gui, the other two lawyers were recommended by Lawyer Liu, and they are both senior criminal defense lawyers.

But the problem is that these two lawyers who came from Beijing did not expect to raise such a non-legal issue, subdividing and transferring, which is a business that they have never been exposed to. The two exchanged glances and remained silent.

Fang Yi saw this word when he was checking information yesterday and paid a little attention to it, but to be honest, he had never been exposed to this business, so in order to avoid making a fool of himself, he did not say anything.

"Is the concept of 'subdivision and transfer' important to this case?" Lawyer Liu felt a little embarrassed and asked casually.

"Well, it's very important, because the defendant's behavior was to subdivide and transfer the shares of an unlisted company. Understanding this definition is conducive to the characterization of this case." Lawyer Zhao replied firmly.

His attitude made Lawyer Liu even more uncomfortable. Lawyer Liu felt as if he was laughing at himself, as if he was saying: You don't even know this concept, you are too good!

When Lawyer Zhao saw that no one of the three local criminal defense lawyers spoke, he deliberately showed off and made the local lawyer roll his eyes, so he wanted to ask a random lawyer. He glanced at everyone and happened to see Fang Yi diagonally opposite.

“Lawyer Fang, I don’t know if you have ever had contact with him.

Let's discuss it together. If there's anything I can't say, please forgive me. "Lawyer Zhao's words were quite polite, but his tone was not very polite.

Fang Yi felt very unhappy when he saw that the other party was pointing at him, but he couldn't do it without saying anything, so he put on a very humble attitude: "I have never been involved in the illegal securities business you mentioned. In fact, the defendant This kind of business that people do has only increased in recent years with the development of the securities market.

Especially after the emergence of the New Equities Exchange and Quotations, many people bought and sold original stocks, which resulted in a mixed market, making it difficult to distinguish the true from the false. That's why this kind of crime occurs.

As I understand it, share splitting and transfer generally means that a listed company expands its total share capital by giving away or transferring shares, or directly lowers its stock price in proportion, and splits high-priced shares into low-priced shares. This can facilitate the intervention of some small shareholders.

For example, if a stock is split in the form of a 10-for-10 split, the stock price per share after the split will be one-tenth of the original price, and the par value of each share will also be one-tenth of the original value. After the stock is split, it will indirectly send a positive message to investors, which will cause the company's stock price to continue to rise..." Fang Yi tried hard to recall what he found on the Internet yesterday.