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Enforcement
China Issues Authoritative Guidance on Handling Bond Disputes
By Editors | 16/07/2020
In disputes involving breach of contract, fraud or false statements – the issuer, its controlling shareholders, directors, and senior management will be held liable for bondholder losses.
Securities / Derivatives
CSRC to Introduce Side Pocket Mechanism for Funds
By Editors | 15/07/2020
The CSRC first issued draft guidelines in August 2019, saying it was “learning from liquidity risk management in overseas markets”.
Enforcement
Chinese Financial Regulators Vow Crackdown on Fraud
By Editors | 14/07/2020
The FSDC set out measures to speed up investigations and criminal prosecutions, increase penalties and civil compensation, and improve stock market delisting mechanisms.
Securities / Derivatives
CSRC Issues New Classification Regulations for Securities Firms
By Lucy Zhang | 14/07/2020
The new regulations maintain the overall framework of the regulatory system of classification and focus on optimising the CSRC’s evaluation indexes to address practical issues.
Enforcement
CSRC Imposes Underwriting Restrictions on GF Securities
By Editors | 13/07/2020
14 GF Securities officers have also been barred from investment banking. The enforcement action is related to a $12.6bn fraud at drugmaker Kangmei Pharmaceutical.
Securities / Derivatives
China Allows Foreign Bank Branches to Enter Fund Custody Business
By Editors | 12/07/2020
Applicant banks must be of “high quality”, specifically in relation to risk management, international reputation, operating performance, profitability and market share.
Enforcement
CSRC to Punish 258 Firms Illegally Financing Margin Trading
By Editors | 09/07/2020
The CSRC warns that illegal lenders are offering margin loans via websites, mobile apps and social media, promising investors 10 times leverage and high profits.
Enforcement
Ex-ICBC Shanghai Boss Pleads Guilty to Bribery
By Editors | 08/07/2020
Prosecutors said Gu Guoming took advantage of his position to help others obtain loans and project contracts, and illegally received bribes worth over 136 million yuan.
Securities / Derivatives
China Issues Final Rules on Handling Corporate Bond Defaults
By Editors | 07/07/2020
The final rules establish trustee managers, bondholder meetings and intermediaries as investor safeguards in the disposal of defaulted corporate bonds.
Market Infrastructure
China May Grant Securities Licences to Major Banks – Report
By Editors | 29/06/2020
At least two major banks are expected to be allowed to conduct investment banking business intially, rather than the full range of securities services.
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