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 Articles
|
News
APRA Publishes Proposal to Increase Transparency of Banking DataAPRA proposed to substantially increase the volume and breadth of data it makes publicly available on authorized deposit-taking institutions, including banks, credit unions, and building societies.
December 05, 2019
WebPage
Regulatory News
|
|
News
ESMA Consults on Guide to Internal Controls for Credit Rating AgenciesESMA launched a consultation on the guidelines on internal controls for credit rating agencies (CRAs).
December 05, 2019
WebPage
Regulatory News
|
|
News
EU Finalizes Directive and Prudential Rules for Investment FirmsEU published, in the Official Journal of the European Union, the Directive (2019/2034) and Regulation (2019/2033) on the prudential requirements and supervision of investment firms.
December 05, 2019
WebPage
Regulatory News
|
|
News
OSFI Revises Guideline on Principles for Management of Liquidity RiskOSFI finalized Guideline B-6 on the principles for the management of liquidity risk.
December 05, 2019
WebPage
Regulatory News
|
|
News
PRA Consults on Framework to Manage Outsourcing and Third-Party RiskPRA published a consultation paper CP30/19 that sets out proposals to modernize the regulatory framework on outsourcing and third-party risk management.
December 05, 2019
WebPage
Regulatory News
|
|
News
BoE, PRA, and FCA Consult to Strengthen Operational ResilienceBoE, PRA, and FCA published a shared policy summary and coordinated consultation papers on new requirements to strengthen operational resilience in the financial services sector.
December 05, 2019
WebPage
Regulatory News
|
|
News
EC Amends Rule on Mapping of External Credit Assessment InstitutionsEC published the implementing regulation (EU) 2019/2028, which amends Regulation 2016/1799, regarding the mapping tables specifying correspondence between the credit risk assessments of external credit assessment institutions (ECAIs) and the credit quality steps set out in the Capital Requirements Regulation.
December 04, 2019
WebPage
Regulatory News
|
|
News
EBA Issues Second Part of Advice on Implementation of Basel III in EUEBA published the second part of its advice on the implementation of Basel III in EU, which complements the report published on August 05, 2019.
December 04, 2019
WebPage
Regulatory News
|
|
News
EU Approves European Council Proposal on CCP Recovery and ResolutionEU ambassadors approved the position of European Council on a proposed framework for clearing houses and their authorities to prepare for and deal with financial difficulties.
December 04, 2019
WebPage
Regulatory News
|
|
News
OSFI Releases Guideline on Foreign Bank Branch Deposit RequirementsOSFI released the final version of Guideline A-10 on foreign bank branch deposit requirements, along with guideline impact analysis statement.
December 04, 2019
WebPage
Regulatory News
|
