CHINA SECURITIES REGULATORY COMMISSION

    Securities / Derivatives

    CSRC Consults on Rules for Foreign Ownership in Securities Firms

    By Manesh Samtani | 09/05/2018

    Foreign majority shareholders must be reputable financial institutions with three year track record; Nomura becomes the latest to seek establishment of majority owned joint venture securities firm in China.

    Market Infrastructure

    China Issues Draft Rules for Depository Receipt Issuance

    By Manesh Samtani | 07/05/2018

    Rules include requirements related to investor protection, information disclosures; Shanghai-London Stock Connect to allow cross listings of depository receipts.

    Securities / Derivatives

    China Allows Foreign Ownership Majority at Securities Firms

    By Manesh Samtani | 02/05/2018

    Ceiling on foreign ownership raised from 49% to 51%, effective immediately; CSRC reviewing first application from UBS to boost stake in China-based UBS Securities.

    Securities / Derivatives

    China Securities Regulator Encourages Rental Property Securitisation

    By Editors | 28/04/2018

    CSRC says rental asset-backed REITs will allow property developers to raise funds, reduce leverage and diversify investment options.

    Market Infrastructure

    HKEX Appoints Laura Cha as Chairman

    By Editors | 27/04/2018

    Industry veteran Laura Cha is first female chairman for a two-year term, subject to approval by chief executive Carrie Lam.

    Securities / Derivatives

    China Allows Domestic Investors to Buy Hong Kong Equity Research

    By Editors | 26/04/2018

    The CSRC has allowed certain types of Hong Kong brokerages to sell locally-focused research to Chinese mainland investors as it looks to further integrate the two markets.

    Securities / Derivatives

    China Launches Pilot to Enable Trading of Restricted H-Shares

    By Manesh Samtani | 24/04/2018

    Founding and controller shareholders of HK-listed Chinese companies will be able to convert non-tradable stock into ordinary H-shares, starting with Legend Holdings.

    Capital / Liquidity

    China Restricts Borrowings, Suspends OTC Options to Curb Brokerage Risks

    By JP Reimann | 16/04/2018

    Central bank will cap outstanding balances of short-term financing tools at 60% of a brokerage’s net capital; cap to be adjusted every six months based on brokers’ liquidity profiles.

    Crypto / Digital Assets

    Report Suggests China May Support Global Crypto Regulation

    By Manesh Samtani | 03/04/2018

    PBOC’s Institute of International Finance says China would actively participate in a G20-led effort to establish a global regulatory framework.

    Enforcement

    CSRC Flexes Muscles with Internal Control, Market Integrity Rules

    By Samuel Riding | 02/04/2018

    Securities regulator, which remains independent after recent reshuffle, tightens rules on investment bank internal controls, securities and futures market participation.

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