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Circular of the Supreme People's Court about Relevant Issues concerning the Freeze and Deduction of Securities Trading Settlement Funds [Effective]
最高人民法院关于冻结、扣划证券交易结算资金有关问题的通知 [现行有效]
【法宝引证码】

 
Circular of the Supreme People's Court about Relevant Issues concerning the Freeze and Deduction of Securities Trading Settlement Funds 

最高人民法院关于冻结、扣划证券交易结算资金有关问题的通知


(No. 239 [2004] of the Supreme People's Court)
 
(法[2004]239号)


With a view to safeguarding the financial safety and social stabilization, maintaining the normal trading and settlement order in the securities markets, protecting the lawful rights and interests of the parties concerned and guaranteeing the people's courts' enforcement according to law, and after consultation with the China Securities Regulatory Commission, the circular about relevant issues concerning the freeze and deduction of securities trading settlement funds by the people's courts are hereby given as follows:
 
为了保障金融安全和社会稳定,维护证券市场正常交易结算秩序,保护当事人的合法权益,保障人民法院依法执行,经商中国证券监督管理委员会,现就人民法院冻结、扣划证券交易结算资金有关问题通知如下:

 
1.When the people's courts handle cases involving securities trading settlement funds, they shall deal with them differently on the basis of different features of the funds.   一、人民法院办理涉及证券交易结算资金的案件,应当根据资金的不同性质区别对待。证券交易结算资金,包括客户交易结算资金和证券公司从事自营证券业务的自有资金。证券公司将客户交易结算资金全额存放于客户交易结算资金专用存款帐户和结算备付金帐户,将自营证券业务的自有资金存放于自有资金专用存款帐户,而上述帐户均应报中国证券监督管理委员会备案。因此,对证券市场主体为被执行人的案件,要区别处理:

The securities trading settlement funds shall include the clients' trading settlement funds and self-owned capital of the securities companies used for self-run securities businesses. A securities company shall deposit the full amount of the clients' trading settlement funds into the deposit account to be exclusively used as the clients' trading settlement funds and into the settlement reserves account, and deposit the self-owned capital used for the self-run securities businesses into the deposit account to be exclusively used as self-owned capital, and the said accounts shall be reported to the China Securities Regulatory Commission for archival filing. Therefore the people's courts shall treat the cases differently if the subject of the securities market is one against whom the judgment or order is executed:
 
当证券公司为被执行人时,人民法院可以冻结、扣划该证券公司开设的自有资金存款帐户中的资金,但不得冻结、扣划该证券公司开设的客户交易结算资金专用存款帐户中的资金。

When a securities company is the person against whom a judgment or order is executed, the people's court may freeze and deduct the funds in the self-owned capital deposit account opened by this securities company, and shall not freeze or deduct the funds in the deposit account used exclusively as the clients' trading settlement funds opened by the securities company.
 
当客户为被执行人时,人民法院可以冻结、扣划该客户在证券公司营业部开设的资金帐户中的资金,证券公司应当协助执行。但对于证券公司在存管银行开设的客户交易结算资金专用存款帐户中属于所有客户共有的资金,人民法院不得冻结、扣划。

When a client is the person against whom a judgment or order is executed, the people's court may freeze and deduct the funds in the funds account opened by this client in the trading department of the securities company, and the securities company shall assist in the enforcement. However, the funds jointly owned by all clients in the deposit account used exclusively as the clients' trading settlement funds opened by the securities company in a deposition-management bank shall not be frozen or deducted.
 

   二、人民法院冻结、扣划证券结算备付金时,应当正确界定证券结算备付金与自营结算备付金。证券结算备付金是证券公司从客户交易结算资金、自营证券业务的自有资金中缴存于中国证券登记结算有限责任公司(以下简称登记结算公司)的结算备用资金,专用于证券交易成交后的清算,具有结算履约担保作用。登记结算公司对每个证券公司缴存的结算备付金分别设立客户结算备付金帐户和自营结算备付金帐户进行帐务管理,并依照经中国证券监督管理委员会批准的规则确定结算备付金最低限额。因此,对证券公司缴存在登记结算公司的客户结算备付金,人民法院不得冻结、扣划。
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