CSRC Issues Rules on Depository Receipt Business Under SSE-LSE Connect
CSRC officially promulgated the rules for supervision and administration of depository receipts under the stock connect scheme between Shanghai Stock Exchange, or SSE, and London Stock Exchange, or LSE, (for trial implementation). The aim of these rules is to regulate the issuance, trading, cross-border conversion, information disclosure, and other activities in relation to depository receipts. The regulations shall be implemented as of the date of promulgation.
Shanghai-London Stock Connect is a market connect scheme between the SSE and the LSE, allowing listed companies of the two markets to cross-list depository receipts. The rules contain 30 articles covering the following aspects:
- Clarifying the auditing system for the Chinese Depository Receipt (CDR) issuance
- Clarifying the institutional arrangements for CDR cross-border conversion
- Clarifying the ongoing regulatory requirements for CDRs, including arrangements for quarterly reports and major asset restructurings
- Clarifying the regulatory arrangements for the issuance of Global Depository Receipts (GDRs) by domestic listed companies
- Strengthening supervision and enforcement and clarifying the legal responsibilities of the relevant market participants
Related Link (in Chinese): Notification
Effective Date: October 12, 2018
Keywords: Asia Pacific, China, Securities, Depository Receipts, CDRs, GDRs, Administrative Measures, CSRC
Previous Article
FASB Proposes Taxonomy Implementation Guide on CECL DisclosuresRelated Insights
|
News
EBA Single Rulebook Q&A: First Update for November 2018EBA published answers to seven questions under the Single Rulebook question and answer (Q&A) updates for this week.
November 09, 2018
WebPage
Regulatory News
|
|
News
FED Finalizes the Large Financial Institution Rating SystemFED finalized the new supervisory rating system for Large Financial Institutions (LFIs), to better align with the current supervisory programs and practices for these firms.
November 09, 2018
WebPage
Regulatory News
|
|
News
ECB Publishes Guides for Capital and Liquidity Management by BanksECB published the guides for capital and liquidity management by banks in EU.
November 09, 2018
WebPage
Regulatory News
|
|
News
EC Amends Regulation on Prudent Valuation for Supervisory ReportingEC published the amended Implementing Regulation (EU) 2018/1627 on prudent valuation for supervisory reporting. Regulation 2018/1627 amends the Implementing Regulation 680/2014.
November 09, 2018
WebPage
Regulatory News
|
|
News
FED Intends to Publish the Financial Stability Report in November 2018FED intends to begin publishing a semiannual report presenting its view of the outlook for U.S. financial stability, on November 28. The financial stability report will include a summary of the FED framework for assessing the resilience of the financial system in the United States.
November 09, 2018
WebPage
Regulatory News
|
|
News
ESMA Asks Clients of CRAs and TRs to Prepare for No-Deal BrexitESMA issued a public statement to raise awareness, among the market participants, on the readiness of credit rating agencies (CRAs) and trade repositories (TRs) for the possibility of no agreement being reached in the context of the United Kingdom withdrawing from the European Union (Brexit).
November 09, 2018
WebPage
Regulatory News
|
|
News
EIOPA Publishes Result of the Work of EU-US Insurance Dialog ProjectEIOPA published four papers resulting from the work of the EU–U.S. Insurance Dialog Project (EU-U.S. Project) in 2018.
November 08, 2018
WebPage
Regulatory News
|
|
News
EIOPA Publishes Q&A on Regulations in November 2018EIOPA published new sets of questions and answers (Q&A) on implementing and delegated regulations applicable to insurers in Europe.
November 07, 2018
WebPage
Regulatory News
|
|
News
APRA Finalizes CPS 234 to Help Combat Threat of Cyber AttacksAPRA has released the final version of its prudential standard focused on information security management.
November 07, 2018
WebPage
Regulatory News
|
|
News
US Agencies Propose Reduced Reporting for Qualifying InstitutionsUS agencies (FDIC, FED, and OCC) proposed to reduce regulatory reporting burden on small institutions by expanding the number of regulated institutions eligible for streamlined reporting.
November 07, 2018
WebPage
Regulatory News
|
