The China Securities Regulatory Commission ("CSRC") has recently issued the Guidelines for the Regulation of Education Bases for Securities and Futures Investors (the "Guidelines"), immediately effective from the issue date.
According to the Guidelines, investor education bases are classified into two categories, i.e. physical investor education bases and internet-based investor education bases. In particular, a physical investor education base shall publish certain information, including when the base is open, how it is made open and its contact number, in a prominent position at its entrance or on internet platforms where the base is publicized, making it convenient for investors to pay a visit. In addition, the Guidelines require that investor education bases shall report truthful information about the services offered to investors, investor education products rolled out and investor education activities carried out, on a regular basis to regulators as required. Any change to a base's name, address or website, or hotline of the physical base, shall be made public in an appropriate way. Furthermore, the Guidelines note that information about the naming and assessment of investor education bases applied for by securities companies, futures companies and their branches will continuously be included into the category-based administration of securities and futures companies, and serve as one of determinants to award bonus points or allot penalty points when relevant indicators in respect of investor protection are rated.