Featured Product

    CSRC Consults on Rules on the Issuance of China Depository Receipts

    May 04, 2018

    CSRC issued draft rules on the issuance and trading of China Depository Receipts. The regulatory requirements and the basic rights and obligations of the participating entities provide an institutional basis for the innovative enterprises to return to the domestic capital market through the issuance of depository receipts. CSRC is soliciting comments on the draft rules.

    The draft rules aim to:

    • Clarify the legal application and basic supervision principles of depository receipts
    • Address arrangements for the issuance, listing, and trading of depository receipts
    • Clarify the information disclosure requirements for depository receipts
    • Establish depository trust depository and trusteeship system by stipulating the depository trustee, custodian, and their responsibilities
    • Strengthen investor protection
    • Strengthen supervision and law enforcement and clarify legal responsibilities

    It is stipulated that the issuer of overseas basic securities, its controlling shareholder, and actual controller are the main parties responsible for information disclosure. While stipulating the principle of disclosure of depository receipts information, the "Securities Law" and "Information Disclosure Management Practices for Listed Companies" and other information disclosure requirements of listed companies are applied. CSRC can take measures such as on-site inspections, investigations, and evidence collection of relevant participants to enrich the supervisory measures of the Securities and Futures Commission regarding violations of laws and regulations. The rule provides that CSRC can take orders for rectification and issue warning letters. 


    Related Link (in Chinese): CSRC Notice

    Keywords: Asia Pacific, China, Securities, Depository Receipts, Investor Protection, Disclosure Requirements, CSRC

    Related Articles
    News

    PRA Consults on Implementation of Certain Provisions of CRD5

    PRA, via the consultation paper CP12/20, proposed changes to its rules, supervisory statements, and statements of policy to implement certain elements of the Capital Requirements Directive (CRD5).

    July 31, 2020 WebPage Regulatory News
    News

    EIOPA Report Identifies Key Financial Stability Risks for Insurers

    EIOPA published the financial stability report that provides detailed quantitative and qualitative assessment of the key risks identified for the insurance and occupational pensions sectors in the European Economic Area.

    July 30, 2020 WebPage Regulatory News
    News

    EBA Publishes Risk Dashboard for First Quarter of 2020

    EBA published its risk dashboard for the first quarter of 2020 together with the results of the risk assessment questionnaire.

    July 30, 2020 WebPage Regulatory News
    News

    EBA Issues Updates on Stress Test Exercise for Banks in EU

    EBA announced that the next stress testing exercise is expected to be launched at the end of January 2021 and its results are to be published at the end of July 2021.

    July 30, 2020 WebPage Regulatory News
    News

    PRA Proposes Guidance Related to Matching Adjustment under Solvency II

    PRA published the consultation paper CP11/20 that sets out its expectations and guidance related to auditors’ work on the matching adjustment under Solvency II.

    July 30, 2020 WebPage Regulatory News
    News

    MAS Issues Guidance on Dividend Distributions by Banks

    MAS published a statement guidance on dividend distribution by banks.

    July 30, 2020 WebPage Regulatory News
    News

    APRA Updates Guidance on Capital Management for Banks

    APRA updated its capital management guidance for banks, particularly easing restrictions around paying dividends as institutions continue to manage the disruption caused by COVID-19 pandemic.

    July 29, 2020 WebPage Regulatory News
    News

    FSB Report Reviews Macro-Prudential Framework and Tools in Germany

    FSB published a report that reviews the progress on data collection for macro-prudential analysis and the availability and use of macro-prudential tools in Germany.

    July 29, 2020 WebPage Regulatory News
    News

    EBA Urges Firms to Finalize Preparations for End of Brexit Transition

    EBA issued a statement reminding financial institutions that the transition period between EU and UK will expire on December 31, 2020; this will end the possibility for the UK-based financial institutions to offer financial services to EU customers on a cross-border basis via passporting.

    July 29, 2020 WebPage Regulatory News
    News

    SRB on Operational Continuity in Resolution and FMI Contingency Plans

    SRB published guidance on operational continuity in resolution and financial market infrastructure (FMI) contingency plans.

    July 29, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5604