CHINA SECURITIES REGULATORY COMMISSION

Enforcement

CSRC Imposes Lifetime Bans on Former Fuxing Group Executives

By Editors | 14/01/2020

Fuxing’s former chairman and ex-president received lifetime bans for running a six-year scheme to defraud investors of $5.3bn. Five others received market bans.

Enforcement

CSRC Issues Warning Letter to GF Securities for Poor Compliance

By Editors | 13/01/2020

An investigation into the firm found fewer-than-required experienced compliance officers, and a lack of independence of its compliance function from other departments.

Securities / Derivatives

JP Morgan Applies for Control of China Futures Business

By Editors | 10/01/2020

The application to take a majority stake in Guangdong-based JPMorgan Futures follows the removal of the foreign ownership limit for futures companies on 1 January 2020.

Securities / Derivatives

CSRC to Allow Fund Managers to Invest in NEEQ Stocks

By Editors | 08/01/2020

To trade NEEQ stocks, fund managers should have investment and research capabilities, and strong liquidity risk management, due diligence and internal control systems.

Enforcement

HKEX Updates Rules for Southbound Investor Identification Regime

By Editors | 08/01/2020

The rule update requires the China broker to keep records of all submitted orders, SEHK trades and related client instructions for a minimum of 20 years.

Enforcement

CSRC Issues Administrative Penalty Against Chinalin Securities

By Editors | 08/01/2020

Chinalin Securities is prohibited from expanding the scale of its business for three months for violating regulations on internal controls, compliance inspections and governance failures.

Securities / Derivatives

PBOC Clarifies Handling of Defaulted Interbank Bonds on Maturity

By Editors | 07/01/2020

The clarification is aimed at improving the disposal mechanism for interbank bonds that have defaulted on maturity or have matured early due to legal reasons such as bankruptcy.

Securities / Derivatives

SZSE, CSDC Issue Implementing Rules for ‘Full Circulation’ of H-Shares

By Editors | 06/01/2020

Full circulation will allow shareholders of mainland companies to convert non-tradeable, domestically-held shares into H-shares for trading in Hong Kong.

Enforcement

Shanghai Bourse Launches New Market Surveillance System

By Editors | 06/01/2020

The new monitoring system will enhance the effectiveness of front-line supervision, ensure fair transactions, and promote the stable and healthy development of the capital market, the SSE says.