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China outlines measures to protect small investors
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China today unveiled a new set of guidelines aimed at protecting the interest of minority stock investors in the latest bid to crack down on fraud and misconduct in the country’s sagging equity market.
The country is mulling setting up an insurance system to counter the risk of delisting of a listed firm and considering plans to expand the size and usage of an investor protection fund, the State Council, China’s Cabinet, said in nine-point guidelines on its website.
Listed companies must separately count the votes of minority investors on issues that affect their interests and make timely disclosures, according to the State Council.
Authorities will also ban listed companies from issuing additional shares if they fail to deliver on their promise to distribute dividends to investors, according to the guidelines.
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