On June 7th, in order to further standardize the administrative penalty discretion of the China Securities Supervision Commission and its dispatched agencies, unify the law enforcement standards, enhance the openness of discretion, and achieve discretionary justice, the Securities Supervision Commission systematically sorted out the practice of administrative punishment in recent years, conducted extensive research and listened to the opinions of all parties. Suggestions, fully drawing on mature experience at home and abroad, and researched and formulated the "China Securities Supervision Commission Administrative Penalty Discretion Basic Rules (exposure draft) " are now open to the public for comments. " The Basic Rules of Discretion have a total of 26 articles, which clarify the purpose and basis for formulating the basic rules of administrative punishment discretion, the definition of administrative punishment discretion, the guiding principles and discretion policies that should be followed in exercising discretion, stipulate the order of discretion and the circumstances of discretion, and provide for the punishment rules for joint offenders, the punishment rules for the directly responsible personnel in charge of the unit and other directly responsible personnel, the application of old and new laws, three-dimensional accountability, and the connection of execution. Matters related to administrative punishment discretion are stipulated.