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Market Infrastructure
China Proposes Communist Party Unit at Listed Firms
By Garima Chitkara | 18/06/2018
The CSRC has proposed establishing a ‘CCP Unit’ at firms already listed and those looking to list on Chinese stock exchanges, for the purpose of carrying out Party activities.
Enforcement
CSRC Warns New Economy Firms Against IPO Over-Pricing
By Garima Chitkara | 18/06/2018
CSRC has singled out five new economy firms whose share prices had “wild swings” or dropped significantly below their highs or offer prices soon after listing.
Securities / Derivatives
China Cracks Down On Zero-Fee Bond Underwriting
By Garima Chitkara | 14/06/2018
The CSRC and the Securities Association of China reportedly sent a notice to brokers asking them to stop underwriting bond deals for free, a common practice in the country to maintain relationships with key clients and underwriting standings.
Enforcement
China, Hong Kong to Deepen Cross-Boundary Market Surveillance
By JP Reimann | 14/06/2018
Regulators discussed collaboration on market surveillance, intelligence sharing, coordinated investigations, and the establishment of a notification mechanism for cases involving dual listed shares and cross-boundary market misconduct.
Enforcement
CBIRC, SFC to Cooperate on Cross Border Supervision
By JP Reimann | 11/06/2018
New MoU to facilitate information exchange in the interest of investor protection, promoting competence and integrity of regulated entities, market and financial integrity, and maintaining financial stability.
Securities / Derivatives
UPDATED – China Allows CDR Listing On The Mainland
By Garima Chitkara | 11/06/2018
China’s securities regulator released rules for the issuance of China Depository Receipts, allowing overseas listed firms to access domestic investors; Xiaomi becomes first applicant for CDR listing.
Securities / Derivatives
China Tightens Rules on Money Market Funds
By JP Reimann | 04/06/2018
New rules cap individual redemptions from money market funds at ¥10,000; payment companies banned from advancing cash to realise same-day redemptions.
Market Infrastructure
Shanghai to Allow Foreign Banks to Set Up Branches, Subsidiaries
By Garima Chitkara | 16/05/2018
China will allow foreign banks to set up branches and subsidiaries in Shanghai amid a host of measures to further open up the city’s financial sector.
Enforcement
CSRC Hands Out $1.2bn in Penalties in Bumper Year
By Manesh Samtani | 15/05/2018
Regulator handed out penalties amounting to $1.19bn in 2017, an 80% increase from 2016; market bans involved 44 persons, the highest in recent years.
Securities / Derivatives
JPMorgan Seeks Majority Stake in China Ventures
By Manesh Samtani | 14/05/2018
The US bank’s Hong Kong unit has applied for 51% stake in a Chinese securities firm; also announced plans for majority stake in its fund management joint venture.
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