The symposium on innovation and development of financial dispute resolution under the new situation and the unveiling ceremony of the Shanghai Financial and Securities Dispute Business Committee of Dehehantong were successfully held.

Recently, Dehehantong successfully held a seminar on the innovation and development of financial dispute resolution under the new situation and officially unveiled the establishment of the Shanghai Financial and Securities Dispute Business Committee of Dehehantong. This conference brought together experts and scholars in the field of financial law, senior lawyers and industry elites. The participants engaged in in-depth discussions on hot topics such as securities false statement litigation and the exit difficulties of asset management products, jointly promoting theoretical innovation and practical integration in the field of financial dispute resolution.

01.Focusing on professional development, the unveiling ceremony marked a new chapter.

Zhang Hengtong, founding partner of Dehehantong, delivered a welcoming speech. He emphasized the importance of financial dispute resolution in the process of legalizing the capital market and pointed out that the establishment of the Shanghai Financial Securities Dispute Business Committee of Dehe was a strategic move in response to industry demands. The committee will gather cross-disciplinary resources, dedicated to building a professional and innovative dispute resolution service platform. It will also stay at the forefront of judicial practice, strengthening the integration of theoretical exploration and practical application, injecting professional impetus into the healthy development of the financial market.

After the speech, Zhang Hengtong, along with Wang Yiping, the director of the Shanghai Financial Securities Dispute Business Committee of Dehe, and Sun Hong, the co-director of the committee, jointly unveiled the plaque for the establishment of the committee.

The Shanghai Financial Securities Dispute Business Committee of Dehe focuses on dispute resolution in the financial and securities fields, covering areas such as asset management product disputes, securities compliance, bond default handling, non-performing debt collection, factoring disputes, and financial leasing. Committee members are all graduates from top domestic and international universities, with experience in red circle law firms and leading law firms. They are skilled at using litigation, arbitration, and commercial negotiations to protect clients' rights and interests, providing professional and high-quality legal services for domestic banks, asset management companies, trust companies, securities companies, insurance companies, and other financial institutions. The cumulative value of cases handled by the members amounts to hundreds of billions of yuan, and the cases they have handled have been selected as typical cases by courts in various regions on multiple occasions.

02.Roundtable Forum One: Trends and Challenges in Securities False Statement Litigation

The first roundtable forum was hosted by Sun Hong, co-director of the Shanghai Financial Securities Dispute Business Committee of Dehe and a member of the 12th Securities Compliance and Dispute Professional Committee of the Shanghai Bar Association. The guests from leading securities firms and law firms, based on judicial practice, deeply analyzed the core issues such as the definition of intermediary responsibilities, the determination of causal relationships, and investor protection in the field of securities false statement litigation.

A senior manager from a certain securities firm shared the understanding of current regulatory trends among front-line investment banking personnel and provided several development ideas for the future business space of the legal industry; Wang Xiaoqian, a lawyer from Deheng Shanghai Law Firm, introduced from the perspective of defendants in securities false statement cases the issues of materiality and transaction causality, and analyzed the impact of investor protection support litigation on the legal market; Hu Changcheng, a lawyer from Taihe Tai (Shanghai) Law Firm, analyzed the practical difficulties in holding intermediaries accountable and proposed that the principle of proportionality of liability should be used to balance the rights and interests of all parties; Sun Chao, a lawyer from Beijing Haotian (Shanghai) Law Firm, shared the experience of handling cases where investors attempted to hold intermediaries accountable for negligence in the absence of regulatory determinations, based on bond default cases. The guests unanimously agreed that with the detailed rules on false statements issued by the Supreme People's Court, judicial practice will pay more attention to the dynamic balance between investor protection and market stability.

03.Roundtable Forum Two: Exit of Asset Management Products and Risk Prevention for Managers

The second roundtable forum was hosted by Wang Yiping, director of the Shanghai Financial Securities Dispute Business Committee of Dehe. The guests engaged in practical discussions on the exit difficulties of asset management products and the responsibilities of managers. Liu Fang, deputy general manager of the Risk Management Department of Yunnan Trust, suggested seeking project extensions to buy time and, in the case of a single trust investor, attempting to solve the liquidity problem of equity assets through original distribution and other methods. Tao Jun, a member of the Shanghai Financial and Securities Dispute Resolution Committee of Dehe, pointed out that the boundary of the manager's due diligence and responsibility should be comprehensively judged based on the depth of due diligence and the fulfillment of liquidation obligations to avoid the logical dilemma of no loss without liquidation. Yang Qiuci, another member of the committee, provided risk warnings from the perspectives of suitability obligations, due diligence, and fund investment directions, based on the logic of determining the manager's responsibility in private equity investment funds. In addition, the guests at the meeting jointly discussed the cutting-edge trust type of special asset service trust, analyzing the long-term responsibilities and exit mechanism design difficulties of the trust vehicle in bankruptcy reorganization.

04.Cross-border dialogue, collusion industry