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Enforcement
China: Luckin Investors Launch Lawsuit Under New Securities Law
By Editors | 26/04/2020
A lack of cross-border regulation presents a challenge to holding Luckin Coffee entities and executives to account for alleged misconduct and fraud.
Securities / Derivatives
CSRC Approves Credit Suisse Majority Control of Securities JV
By Editors | 20/04/2020
The approval allows Credit Suisse to raise its stake in a joint venture with Founder Securities from 33.3% to 51%, making it the latest foreign firm to gain majority control of a domestic brokerage in China.
Securities / Derivatives
China’s Top Two Brokerage Firms Explore Merger – Report
By Editors | 14/04/2020
A merger between Citic Securities and CSC Financial would create a $67bn investment bank, surpassing the market cao of most other foreign competitors.
Market Infrastructure
China Opens Treasury Bond Futures Market to ICBC, BOC, BoCom
By Editors | 13/04/2020
Participation by the three banks in the treasury bond futures market will improve liquidity, enhance price discovery, and create a more meaningful yield curve.
Enforcement
CSRC Opens Investigation into Fraud at Coffee Chain
By Editors | 06/04/2020
The chief operating officer of Nasdaq-listed Luckin Coffee, along with his employees, are said to have fabricated about $310mn worth of sales transactions.
Securities / Derivatives
CSRC Starts Accepting Licence Applications from US Fund Managers
By Editors | 02/04/2020
BlackRock and Neuberger Berman applications to set up wholly-owned mutual fund units were accepted on the first day foreign ownership caps were scrapped in China.
Securities / Derivatives
China Launches New LPG Futures, Options Contracts
By Editors | 31/03/2020
The day-apart launches mark the first time futures and options for a single product debut nearly simultaneously on a Chinese commodities exchange.
Securities / Derivatives
Goldman, Morgan Stanley Approved to Control China Securities JVs
By Editors | 29/03/2020
The two US banks have approval to raise their stakes in their securities joint ventures to 51%. On 1 April, foreign ownership caps for securities firms and fund managers will be scrapped entirely.
Market Infrastructure
PBOC, CSRC Pledge to Enhance Bond Market Functioning
By Editors | 12/03/2020
The regulators will work to optimise the bond issuance management system, promote bond product innovation, and enhance the policy environment for private enterprises.
Securities / Derivatives
CSRC Loosens Rules on Venture Capital Divestment
By Editors | 10/03/2020
The move is said to be aimed at strengthening support for the real economy by allowing VC and PE firms to more quickly reinvest in startup firms.
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