Circular on Issuing the Standards for Self-regulation and Services of Regional Equity Markets (for Trial Implementation)
Circular on Issuing the Standards for Self-regulation and Services of Regional Equity Markets (for Trial Implementation)
Circular on Issuing the Standards for Self-regulation and Services of Regional Equity Markets (for Trial Implementation)
Zhong Zheng Xie Fa [2018] No.201
August 17, 2018
All member entities,
In order to implement the relevant guidelines and policies of the State Council and the relevant work arrangements of the China Securities Regulatory Commission, fulfill the duties of the self-regulatory organization of the Securities Association of China (the "SAC"), promote the standardized development of regional equity markets, better serve the real economy, and prevent and control financial risks, the SAC has formulated, on the basis of extensive collection of opinions from industry and regulatory authorities, the Standards for Self-regulation and Services of Regional Equity Markets (for Trial Implementation), which have been adopted by voting at the eighth meeting of the sixth executive council of the SAC and are hereby promulgated. The original Standards for Securities Companies Participating in Regional Equity Market Business shall be simultaneously repealed.
Standards for Self-regulation and Services of Regional Equity Markets (for Trial Implementation)
(Deliberated and adopted at the eighth meeting of the sixth executive council of the Securities Association of China on July 23, 2018)
Article 1 In order to implement the relevant guidelines and policies of the State Council and the relevant work arrangements of the China Securities Regulatory Commission (hereinafter referred to as the "CSRC"), fulfill the duties of the self-regulatory organization of the Securities Association of China (hereinafter referred to as the "SAC"), promote the standardized development of regional equity markets, better serve the real economy, and prevent and control financial risks, these Standards are formulated in accordance with the Circular of the General Office of the State Council on Regulating the Development of Regional Equity Markets, the Tentative Measures for the Regulation of Regional Equity Markets and the Articles of Association of the Securities Association of China.
Article 2 The regional equity market operators established according to the law may join the SAC as special members and be subject to self-regulation and services.
Securities companies and subsidiaries thereof may participate in regional equity markets by investing in and becoming shareholders of regional equity market operators or carrying out regional equity market-related business or otherwise.
These Standards shall apply to the above-mentioned regional equity market operators, institutions that provide registration and settlement services for regional equity markets, and securities companies that participate in regional equity markets.
Article 3 Regional equity market operators shall comply with laws and regulations, regulatory requirements and these Standards when organizing and carrying out non-public offerings and transfers of stocks of small, medium and micro enterprises, corporate debentures convertible to stocks and other securities approved by the relevant departments under the State Council as well as the relevant activities in the provincial-level administrative regions.
Article 4 A regional equity market operator shall follow the following business standards:
1.
......
Zhong Zheng Xie Fa [2018] No.201
August 17, 2018
All member entities,
In order to implement the relevant guidelines and policies of the State Council and the relevant work arrangements of the China Securities Regulatory Commission, fulfill the duties of the self-regulatory organization of the Securities Association of China (the "SAC"), promote the standardized development of regional equity markets, better serve the real economy, and prevent and control financial risks, the SAC has formulated, on the basis of extensive collection of opinions from industry and regulatory authorities, the Standards for Self-regulation and Services of Regional Equity Markets (for Trial Implementation), which have been adopted by voting at the eighth meeting of the sixth executive council of the SAC and are hereby promulgated. The original Standards for Securities Companies Participating in Regional Equity Market Business shall be simultaneously repealed.
Standards for Self-regulation and Services of Regional Equity Markets (for Trial Implementation)
(Deliberated and adopted at the eighth meeting of the sixth executive council of the Securities Association of China on July 23, 2018)
Article 1 In order to implement the relevant guidelines and policies of the State Council and the relevant work arrangements of the China Securities Regulatory Commission (hereinafter referred to as the "CSRC"), fulfill the duties of the self-regulatory organization of the Securities Association of China (hereinafter referred to as the "SAC"), promote the standardized development of regional equity markets, better serve the real economy, and prevent and control financial risks, these Standards are formulated in accordance with the Circular of the General Office of the State Council on Regulating the Development of Regional Equity Markets, the Tentative Measures for the Regulation of Regional Equity Markets and the Articles of Association of the Securities Association of China.
Article 2 The regional equity market operators established according to the law may join the SAC as special members and be subject to self-regulation and services.
Securities companies and subsidiaries thereof may participate in regional equity markets by investing in and becoming shareholders of regional equity market operators or carrying out regional equity market-related business or otherwise.
These Standards shall apply to the above-mentioned regional equity market operators, institutions that provide registration and settlement services for regional equity markets, and securities companies that participate in regional equity markets.
Article 3 Regional equity market operators shall comply with laws and regulations, regulatory requirements and these Standards when organizing and carrying out non-public offerings and transfers of stocks of small, medium and micro enterprises, corporate debentures convertible to stocks and other securities approved by the relevant departments under the State Council as well as the relevant activities in the provincial-level administrative regions.
Article 4 A regional equity market operator shall follow the following business standards:
1.
......