股(gu)(gu)(gu)票是公(gong)司(si)發行的(de)所有(you)權憑證(zheng)，股(gu)(gu)(gu)東(dong)花(hua)錢(qian)買了(le)(le)股(gu)(gu)(gu)票，就(jiu)成(cheng)為(wei)公(gong)司(si)的(de)股(gu)(gu)(gu)東(dong)，誰出錢(qian)誰就(jiu)是股(gu)(gu)(gu)東(dong)，就(jiu)是這么簡(jian)單。然而(er)在證(zheng)券市場，總有(you)那么一些(xie)人，花(hua)錢(qian)買股(gu)(gu)(gu)票，卻不(bu)想(xiang)讓(rang)別(bie)人知道他是公(gong)司(si)的(de)股(gu)(gu)(gu)東(dong)。這樣就(jiu)有(you)了(le)(le)代持股(gu)(gu)(gu)份，代持原(yuan)因雖然五(wu)花(hua)八門，但都(dou)出于一個(ge)目的(de)：不(bu)想(xiang)公(gong)開實際出資(zi)人的(de)身份。然而(er)紙包不(bu)住火(huo)，做代持安排時說好(hao)了(le)(le)“天知、地(di)知、你知、我知”，最(zui)終還是會被(bei)捅出來(lai)，只不(bu)過是時間問題罷了(le)(le)，股(gu)(gu)(gu)份代持往往兩敗(bai)俱傷，沒有(you)后悔藥可吃。

　　甲上市(shi)公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)披(pi)露了(le)一則(ze)公(gong)(gong)(gong)(gong)(gong)(gong)(gong)告，說(shuo)A公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)打算受讓B股(gu)(gu)東(dong)持(chi)有(you)(you)該上市(shi)公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)的(de)(de)部(bu)分股(gu)(gu)票(piao)，占總股(gu)(gu)本(ben)比例(li)超(chao)過了(le)5%，三個月(yue)后完成(cheng)股(gu)(gu)權(quan)(quan)(quan)(quan)過戶手(shou)續。這三個月(yue)期(qi)間(jian)，A公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)和(he)C公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)簽訂《股(gu)(gu)權(quan)(quan)(quan)(quan)代持(chi)協議書》，雙方約定，C公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)實(shi)(shi)際(ji)出(chu)資(zi)(zi)購買(mai)甲公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)股(gu)(gu)票(piao)并(bing)享(xiang)有(you)(you)相關投資(zi)(zi)權(quan)(quan)(quan)(quan)益，這部(bu)分股(gu)(gu)票(piao)交(jiao)給A公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)代持(chi)，代持(chi)期(qi)間(jian)所產生(sheng)的(de)(de)收(shou)益在扣除相關成(cheng)本(ben)和(he)稅費后，C公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)享(xiang)有(you)(you)95%，A公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)享(xiang)有(you)(you)5%，C公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)作為(wei)代持(chi)股(gu)(gu)份的(de)(de)實(shi)(shi)際(ji)出(chu)資(zi)(zi)人，享(xiang)有(you)(you)實(shi)(shi)際(ji)的(de)(de)股(gu)(gu)東(dong)權(quan)(quan)(quan)(quan)益并(bing)有(you)(you)權(quan)(quan)(quan)(quan)獲(huo)得相應(ying)的(de)(de)投資(zi)(zi)收(shou)益，A公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)必須遵從(cong)C公(gong)(gong)(gong)(gong)(gong)(gong)(gong)司(si)(si)(si)的(de)(de)意志行(xing)使股(gu)(gu)東(dong)權(quan)(quan)(quan)(quan)利(li)。

　　代持(chi)關(guan)系至此就正式形成(cheng)了(le)，之后(hou)一度風平(ping)浪靜，代持(chi)關(guan)系穩(wen)穩(wen)的沉在水(shui)底，無人知曉。代持(chi)約一年后(hou)，該(gai)上市公(gong)司開始密集(ji)爆(bao)出各種利好消息，股價扶搖直上，C公(gong)司擇機進(jin)行(xing)減(jian)持(chi)，三個(ge)多月就收獲了(le)3億多元投資收益。這(zhe)時A公(gong)司慌了(le)，這(zhe)么精準的減(jian)持(chi)，多半是有內幕交易的嫌疑啊(a)，萬一到時東窗事發自(zi)己成(cheng)了(le)背鍋俠可咋(za)辦。于是A公(gong)司急忙撇清自(zi)己的責任(ren)，進(jin)行(xing)揭(jie)發舉報，股份代持(chi)關(guan)系這(zhe)才浮出水(shui)面。

　　C公司(si)本想以股份(fen)代持掩蓋內(nei)幕交(jiao)易，然而未曾(ceng)想到(dao)也有東窗(chuang)事(shi)發的(de)那一天。A公司(si)雖舉(ju)報(bao)有功，也難逃罰則(ze)。另外，隨著(zhu)調查的(de)深入(ru)，發現甲上市公司(si)董事(shi)長(chang)和(he)C公司(si)亦有關(guan)聯，是知曉代持事(shi)項的(de)。由(you)于A公司(si)、C公司(si)和(he)甲上市公司(si)未能披露代持協議及(ji)相關(guan)內(nei)容，證(zheng)監會對三(san)家公司(si)和(he)相關(guan)當事(shi)人進行(xing)了行(xing)政處罰。

　　從這件事(shi)可(ke)以(yi)看(kan)出，想在資(zi)本市場做隱形人還是挺難的。資(zi)本市場最重要的就是公(gong)平、公(gong)正、公(gong)開，陽光(guang)之下無陰(yin)影，想在資(zi)本市場上撈一(yi)把還要找別(bie)人打掩護，哪有這等好事(shi)。投資(zi)者如想參(can)與資(zi)本市場活動(dong)，就要(yao)(yao)遵守資(zi)本游戲(xi)的規矩(ju)，該披露的就披露，不(bu)該做的千萬別做。不(bu)論上市公(gong)司還是(shi)股東(dong)，所(suo)做事項達到(dao)披露標準(zhun)(zhun)，該主體就成為信(xin)息披露義務人，都要(yao)(yao)及時、公(gong)平(ping)地進行披露，并保證(zheng)信(xin)息的真(zhen)實(shi)、準(zhun)(zhun)確、完整。凡事不(bu)要(yao)(yao)懷揣僥幸心(xin)理，做事坦蕩蕩，才能基業長青。