China Securities Regulatory Commission

Enforcement

CSRC Lifts Citadel Securities’ 4-Year Trading Suspension

By Editors | 21/01/2020

Citadel Securities has agreed to pay almost $100mn to settle charges that its algorithmic trading disrupted the market during the 2015 market correction.

Market Infrastructure

Trade Deal to Enable Early Entry of US Firms to China

By Manesh Samtani | 16/01/2020

Under the agreement, the December timeline for China’s removal of foreign ownership limits in the securities sector is brought forward to April.

Securities / Derivatives

Hong Kong, China Resume Discussions on ETF Connect

By Editors | 15/01/2020

SFC deputy chief executive Julia Leung has indicated that discussions with the CSRC have resumed to address the technical challenges of implementing an ETF Connect.

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.