Release of the Revised Provisions on Confidentiality and Archives Administration as Supplement to CSRC Regulations on Filing-based Administration of Overseas Offering and Listing
In order to support domestic companies' overseas securities offering and listing pursuant to laws and regulations, as a supplement to the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (hereinafter referred to as the Trial Measures), China Securities Regulatory Commission (the CSRC), Ministry of Finance of the People’s Republic of China, National Administration of State Secrets Protection, and National Archives Administration of China, have jointly revised the Provisions on Strengthening Confidentiality and Archives Administration for Overseas Securities Offering and Listing (Announcement No.29 of the CSRC, hereinafter referred to as the Provisions). The revised Provisions is issued under the title...
CSRC Releases New Regulations for Filing-based Administration of Overseas Offering and Listing
Approved by the State Council, China Securities Regulatory Commission (“CSRC”) released new regulations for the filing-based administration of overseas securities offering and listing by domestic companies on 17th February 2023. The regulations will come into effect on 31st March 2023. The newly released set of regulations consists of 6 documents, including the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (the “Trial Measures”) and 5 supporting guidelines. Composed of 6 chapters with 35 articles, the Trial Measures mainly covers the following contents: Firstly, refining the regulatory system by subjecting both direct and indirect overseas offering and listing activities to the filing-based administration, and clearly...
CSRC and SFC enter into an MoU on regulatory cooperation
Joint Announcement of the China Securities Regulatory Commission and the Hong Kong Securities and Futures Commission To further strengthen cross-boundary regulatory cooperation on matters concerning the listing of Mainland enterprises in Hong Kong, the China Securities Regulatory Commission (CSRC) and the Hong Kong Securities and Futures Commission (SFC) have agreed to enter into a Memorandum of Understanding (MoU) today with respect to the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies, which will come into effect on 31 March 2023. The MoU clarifies the arrangements and procedures for share issuance and listing, cross-boundary enforcement, supervision of intermediaries, and...
CSRC Convened the 19th International Advisory Council Meeting
The 19th annual meeting of the CSRC International Advisory Council (IAC) was convened recently via video-link. The IAC Chair Sir Howard Davies, Vice Chair Ms. Laura M. Cha, other IAC members and special guest, together with the CSRC Chairman Yi Huiman and Vice Chairman Fang Xinghai were present at the meeting. Heads of the CSRC departments, regional offices and affiliated institutions also attended the meeting. The meeting was themed “China’s Capital Markets: High-Quality Development and High-Level Opening Up Amid Great Global Changes”, and the candid and in-depth discussion was focused on three broad topics including “opportunities and challenges for China’s capital markets amid great global changes”, “deepening the fundamental institutional reform and improving the function of the capital market so as to make greater...
CSRC Officials Answered Reporter Question regarding Progress in China-U.S. Audit Oversight Cooperation
Reporter: On the morning of December 15th local time, the Public Company Accounting Oversight Board (PCAOB) of the U.S. issued a report confirming that it was able to completely inspect and investigate the accounting firms headquartered in Chinese Mainland and the Hong Kong SAR in 2022, and thus vacating its relevant determinations made in 2021. This announcement, showing good progress in China-US audit oversight cooperation, is widely seen by the market as a positive signal for Chinese companies listed or seeking listings on the U.S. market. What are the CSRC’s comments on this matter? Official: We have noticed the report and relevant statements...
Third China-Japan Capital Markets Forum Held in Virtual Format
The third China-Japan Capital Markets Forum was held in virtual format on September 7th, 2022. Mr. FANG Xinghai, Vice Chairman of China Securities Regulatory Commission (CSRC), Mr. Junichi NAKAJIMA, Commissioner of Japan Financial Services Agency (JFSA), and Mr. Mitsuhiro HASEGAWA, Chairman of Japan Securities and Exchange Surveillance Commission (SESC) spoke at the Forum. Participants from both sides engaged in in-depth discussion about topics of mutual interest, including enhancing pragmatic cooperation between the capital markets of China and Japan, and leveraging capital markets to address population aging. The Forum held that capital markets of China and Japan were both of large size and...
CSRC Officials Answered Reporter Questions regarding China-U.S. Audit Oversight Cooperation Agreement
1. Question: What is the significance of signing the China-U.S. audit oversight cooperation agreement？ Answer: The China-U.S. audit oversight cooperation agreement is an important first step by both sides to resolve issues concerning audit oversight cooperation. The agreement establishes a framework for regulators from both countries to carry out regulatory cooperation in inspecting and investigating audit firms within their jurisdiction in accordance with applicable laws. The agreement, in line with common practices in global capital markets, has laid the foundation for reciprocal and efficient cooperation between the two sides in compliance with domestic laws and regulatory requirements. The cooperation will help improve...
China Securities Regulatory Commission and Ministry of Finance of the People’s Republic of China Enter Into Audit Oversight Cooperation Agreement with U.S. Public Company...
China Securities Regulatory Commission, Ministry of Finance of the People’s Republic of China and Public Company Accounting Oversight Board of the U.S. signed an audit oversight cooperation agreement on August 26, 2022 and will advance this cooperation in the near future. Consistent with laws and regulations of both countries and international common practices, and in the spirit of reciprocity and mutual benefit, the agreement establishes a cooperation framework in line with the authorities’ respective laws and regulatory mandates, and sets out specific arrangements on conducting inspections and investigations by both sides over relevant audit firms within the jurisdiction of both sides. The signing of the agreement is an important step forward by...
CSRC Official of Relevant Departments Answered Reporter Question Regarding Recent Decisions by A Few Chinese Companies to Voluntarily Delist from U.S. Exchanges
Reporter: Today, a few Chinese companies announced their decision to delist from U.S. securities exchanges. What is the CSRC’s comment on this? Official: We have noticed these announcements. Listings and delistings are both common in capital markets. According to these companies’ announcements, they have strictly observed relevant U.S. rules and regulations since listed on the U.S. markets, and the delisting decisions are made out of their business considerations. These companies are listed on multiple markets, and only a small portion of their securities are traded in the U.S. markets. The delisting plan will not jeopardize these companies’ fund-raising ability through domestic and...
China-Switzerland Stock Connect Officially Launched
On July 28, 2022, Mr. Fang Xinghai, Vice Chairman of the China Securities Regulatory Commission, and Ms. Daniela Stoffel, State Secretary of the Swiss Federal Department of Finance, jointly announced the official launch of the China-Switzerland Stock Connect and delivered speeches. Mr. Wang Shiting, Chinese Ambassador to Switzerland, attended and addressed the launch ceremony, followed by speeches of Mr. Thomas Zeeb, Head Exchanges of the SIX Swiss Exchange, Mr. Cai Jianchun, President of the Shanghai Stock Exchange, and Ms. Sha Yan, President & CEO of the Shenzhen Stock Exchange. The launch ceremony was also attended by Mr. Wang Guojian, Deputy Director-General of the Capital Account Management Department of the State Administration of Foreign Exchange and...
Joint Announcement of the China Securities Regulatory Commission and the Hong Kong Securities and Futures Commission
To further deepen mutual stock market access between the Mainland and Hong Kong (Stock Connect) and promote the development of both capital markets, the China Securities Regulatory Commission (CSRC) and the Hong Kong Securities and Futures Commission (SFC) agree in principle to the inclusion of eligible exchange-traded funds (ETFs) by Mainland and Hong Kong exchanges in Stock Connect. It is hereby announced that: 1. To expand the variety of traded products and provide more investment opportunities and convenience for domestic and overseas investors, the CSRC and the SFC reached a consensus to include ETFs as eligible securities under Stock Connect...
Officials of Relevant CSRC Department Answered Reporter Question
Reporter: What are the CSRC’s comments on DiDi’s announcement today about its voluntary delisting from the U.S. stock exchange? CSRC Official: We have taken notice of the announcement. This is an independent corporate decision made by the company based on its own situation and market conditions. The CSRC has always maintained a consistent attitude that overseas listing of Chinese companies shall comply with applicable laws, regulations, and regulatory requirements in both their host and home markets, and required listed companies to fully protect the legitimate rights and interests of investors, especially those of small and medium investors. DiDi’s voluntary delisting is a specific case that has no linkage to other Chinese companies listed overseas. It has nothing to do with the ongoing negotiation between Chinese and U.S....
Regulator Name: China Securities Regulatory Commission
Email: [email protected]
The AMF presents its proposals to improve the readability of financial product fees in European law
As part of the ongoing discussions on the European Commission’s Retail Investment Strategy, the AMF is publishing, following work with the Financial Sector Consultative Committee (FSCC), a pro
Authority appoints new Head of Operations
Published on: 28 March 2023 The Isle of Man Financial Services Authority has announced the appointment of Scott Quayle as its new Head of Operations.
Counter Terrorism Designations; Syria Designations
SPECIALLY DESIGNATED NATIONALS LIST UPDATE The following individuals have been added to OFAC's SDN List: ABU ZUREIK, Imad (Arabic: عماد ابو زریق) (a.k.a. ABU ZUREIQ, Imad),...
ESMA publishes guidance on fractional shares
See the content published by the European Securities and Markets Authority (ESMA) here: Read more
RC.No.2154 – General Remittance order dated 27.03.2023 -Recovery proceedings against Ramesh Jain (PAN- ADIPJ1942R) under RC.No.2154 in the matter of Oasis Media Metrix Ltd.
This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the article here: Read more