第一百零一條有公司法第五十七條規(guī)定的情形或者下列情形之一的，不得擔(dān)任證券交易所的負(fù)責(zé)人：

Article 101. If any of the following situations or those stipulated in article 57 of the Corporation Law can be applied to any individuals, they shall not assume the positions of being the responsible people of a stock exchange:

（一）因違法行為或者違紀(jì)行為被解除職務(wù)的證券交易所、證券登記結(jié)算機(jī)構(gòu)的負(fù)責(zé)人或者證券公司的董事、監(jiān)事、經(jīng)理，自被解除職務(wù)之日起未逾五年；

(1) The responsible people of a stock exchange or a securities registration and account balancing institution, or the directors, supervisors, or managers of a stock exchange who have been removed from office due to practices in violation of the law or of discipline, and it has been less than five years since the day of their removal.

（二）因違法行為或者違紀(jì)行為被撤銷資格的律師、注冊(cè)會(huì)計(jì)師或者法定資產(chǎn)評(píng)估機(jī)構(gòu)、驗(yàn)證機(jī)構(gòu)的專業(yè)人員，自被撤銷資格之日起未逾五年。

(2) Lawyers, registered accountants, or professionals at assets assessment or verification institutions who have been disqualified due to practices in violation of the law or of discipline, and it has been less than five years since the day of their disqualification.

第一百零二條因違法行為或者違紀(jì)行為被開除的證券交易所、證券登記結(jié)算機(jī)構(gòu)、證券公司的從業(yè)人員和被開除的國(guó)家機(jī)關(guān)工作人員，不得招聘為證券交易所的從業(yè)人員。

Article 102. Employees of a stock exchange, securities registration or account balancing institution, or securities company who have been dismissed due to practices in violation of the law or of discipline, or dismissed state organ employees shall not be recruited as employees of a stock exchange.

第一百零三條進(jìn)入證券交易所參與集中競(jìng)價(jià)交易的，必須是具有證券交易所會(huì)員資格的證券公司。

Article 103. The securities companies that participate in collective trading through bidding at a stock exchange must be those that hold stock exchange membership.

第一百零四條投資者應(yīng)當(dāng)在證券公司開立證券交易帳戶，以書面、電話以及其他方式，委托為其開戶的證券公司代其買賣證券。

Article 104. Investors shall open stock exchange accounts with securities companies, and in written form, by telephone, or through other means entrust the company with buying and selling securities for them.

投資者通過其開戶的證券公司買賣證券的，應(yīng)當(dāng)采用市價(jià)委托或者限價(jià)委托。

Investors who sell and buy securities through the securities companies with which they have opened accounts shall entrust the companies by adopting market price or limit price.

第一百零五條證券公司根據(jù)投資者的委托，按照時(shí)間優(yōu)先的規(guī)則提出交易申報(bào)，參與證券交易所場(chǎng)內(nèi)的集中競(jìng)價(jià)交易；證券登記結(jié)算機(jī)構(gòu)根據(jù)成交結(jié)果，按照清算交割規(guī)則，進(jìn)行證券和資金的清算交割，辦理證券的登記過戶手續(xù)。

Article 105. Entrusted by investors, securities companies will file trading declarations based on the rule of time precedence, and participate in the collective trading through bidding at the stock exchange. The securities registration and account balancing institutions conduct stock clearing and delivery of securities and capital, and handle the procedures of security registration and transfer ownership based on transaction results and in accordance with the rules of clearing and delivery.

第一百零六條證券公司接受委托或者自營(yíng)，當(dāng)日買入的證券，不得在當(dāng)日再行賣出。

Article 106. The securities companies, either entrusted or self?operating, shall not sell the securities on the same day they are purchased.

第一百零七條證券交易所應(yīng)當(dāng)為組織公平的集中競(jìng)價(jià)交易提供保障，即時(shí)公布證券交易行情，并按交易日制作證券市場(chǎng)行情表，予以公布。

Article 107. The stock exchange shall provide guarantee for organized and fair collective trading through bidding, promptly publicize stock market prices, and create and publicize stock quotations lists based on the situation of the transaction day.

第一百零八條證券交易所依照法律、行政法規(guī)的規(guī)定，辦理股票、公司債券的暫停上市、恢復(fù)上市或者終止上市的事務(wù)，其具體辦法由國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)制定。

Article 108. The stock exchange handles affairs regarding suspension, resumption, and termination of the listing of stocks and corporate bonds on the basis of law and administrative regulations. The concrete procedures are formulated by the securities regulatory body of the State Council.

第一百零九條因突發(fā)性事件而影響證券交易的正常進(jìn)行時(shí)，證券交易所可以采取技術(shù)性停牌的措施；因不可抗力的突發(fā)性事件或者為維護(hù)證券交易的正常秩序，證券交易所可以決定臨時(shí)停市。

Article 109. When an emergency affects the normal operation of a stock exchange, it can introduce technical measures to stop listings; in the event of an irresistible emergency or to preserve its normal operation, it can decide to temporarily halt trading.

證券交易所采取技術(shù)性停牌或者決定臨時(shí)停市，必須及時(shí)報(bào)告國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)。

If a stock exchange introduces technical measures to stop listings or decides to temporarily halt trading, it must immediately report this to the State Council's securities regulatory body.

第一百一十條證券交易所對(duì)在交易所進(jìn)行的證券交易實(shí)行實(shí)時(shí)監(jiān)控，并按照國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)的要求，對(duì)異常的交易情況提出報(bào)告。

Article 110. A stock exchange monitors and supervises securities trading and, in accordance with the requirements of the State Council's securities regulatory body, report on abnormal trading.

證券交易所應(yīng)當(dāng)對(duì)上市公司披露信息進(jìn)行監(jiān)督，督促上市公司依法及時(shí)、準(zhǔn)確地披露信息。

A stock exchange shall supervise the information released by the company on the listing, and it shall also supervise the company in lawfully, promptly, and accurately releasing information.

第一百一十一條證券交易所應(yīng)當(dāng)從其收取的交易費(fèi)用和會(huì)員費(fèi)、席位費(fèi)中提取一定比例的金額設(shè)立風(fēng)險(xiǎn)基金。風(fēng)險(xiǎn)基金由證券交易所理事會(huì)管理。

Article 111. A stock exchange shall deduct a proportionate amount of money from the trading costs, membership fees, and seat fees to set up a risk?bearing fund, which will be managed by the stock exchange administrative board.

風(fēng)險(xiǎn)基金提取的具體比例和使用辦法，由國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)會(huì)同國(guó)務(wù)院財(cái)政部門規(guī)定。

The detailed percentage of deduction and the procedures to use the fund will be decided by the State Council's securities regulatory and financial institutions.

第一百一十二條證券交易所應(yīng)當(dāng)將收存的交易保證金、風(fēng)險(xiǎn)基金存入開戶銀行專門帳戶，不得擅自使用。

Article 112. A stock exchange shall deposit in a special bank account the trading guarantee fund and risk?bearing fund it has collected, and unauthorized use of these funds is not allowed.

第一百一十三條證券交易所依照證券法律、行政法規(guī)制定證券集中競(jìng)價(jià)交易的具體規(guī)則，制訂證券交易所的會(huì)員管理規(guī)章和證券交易所從業(yè)人員業(yè)務(wù)規(guī)則，并報(bào)國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)批準(zhǔn)。

Article 113. A stock exchange shall, in accordance with the Securities Law and the Administrative Law, formulate detailed rules on competitive trading, regulations governing its members, and rules concerning its employees, and shall submit these to the State Council's securities regulatory body for approval.

第一百一十四條證券交易所的負(fù)責(zé)人和其他從業(yè)人員在執(zhí)行與證券交易有關(guān)的職務(wù)時(shí)，凡與其本人或者其親屬有利害關(guān)系的，應(yīng)當(dāng)回避。

Article 114. Leaders or employees of a stock exchange shall avoid performing any securities trading linked to their interests or their relatives' interests.

第一百一十五條按照依法制定的交易規(guī)則進(jìn)行的交易，不得改變其交易結(jié)果。對(duì)交易中違規(guī)交易者應(yīng)負(fù)的民事責(zé)任不得免除；在違規(guī)交易中所獲利益，依照有關(guān)規(guī)定處理。

Article 115. Trading that has proceeded in compliance with trading rules worked out according to law brooks no change. A breach of trading rules cannot be exempted from civil liability, and the profits obtained from this violation will be treated according to the relevant regulations.

第一百一十六條在證券交易所內(nèi)從事證券交易的人員，違反證券交易所有關(guān)交易規(guī)則的，由證券交易所給予紀(jì)律處分；對(duì)情節(jié)嚴(yán)重的，撤銷其資格，禁止其入場(chǎng)進(jìn)行證券交易。

Article 116. Those engaged in securities trading at a stock exchange who violate the stock exchange's regulations will be given disciplinary punishment by the stock exchange. If their violation is serious, they will be disqualified and forbidden to enter the stock exchange for any trading.

第六章證券公司

Chapter VI Securities Companies

第一百一十七條設(shè)立證券公司，必須經(jīng)國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)審查批準(zhǔn)。未經(jīng)國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)批準(zhǔn)，不得經(jīng)營(yíng)證券業(yè)務(wù)。

Article 117. The establishment of a securities company must be examined and approved by the State Council's securities regulatory body. Without the approval of this institution, no one is allowed to engage in securities business.

第一百一十八條本法所稱證券公司是指依照公司法規(guī)定和依前條規(guī)定批準(zhǔn)的從事證券經(jīng)營(yíng)業(yè)務(wù)的有限責(zé)任公司或者股份有限公司。

Article 118. The securities company mentioned by this law refers to a company with limited liabilities or a shareholding company, which are both permitted by the Company Law and the preceding article to engage in securities business.

第一百一十九條國(guó)家對(duì)證券公司實(shí)行分類管理，分為綜合類證券公司和經(jīng)紀(jì)類證券公司，并由國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)按照其分類頒發(fā)業(yè)務(wù)許可證。

Article 119. The state exercises management over securities companies, dividing them into comprehensive securities companies and brokerage securities companies. The State Council's securities regulatory body will provide them with licenses according to their different types.

第一百二十條證券公司必須在其名稱中標(biāo)明證券有限責(zé)任公司或者證券股份有限公司字樣。

Article 120. Securities companies must use the names of securities companies with limited liabilities or shareholding securities companies.

經(jīng)紀(jì)類證券公司必須在其名稱中標(biāo)明經(jīng)紀(jì)字樣。

Brokerage securities companies must use the word "brokerage" for their names.