Rules on listed brokers tightened
By Winny Wang |
July 6, 2010, Tuesday
|
Print Edition
Print Edition
CHINA'S securities regulator ordered publicly-traded brokerages to tighten management of internal information to prevent insider trading and conflict of interest.
Listed brokerages must improve their information management system, including recording internal information, confidentiality and firewall systems as well as institute an emergency mechanism to prevent "conflict of interest and insider trading," said the China Securities Regulatory Commission in a recent statement on its website.
The CSRC also required brokerages to disclose major financial information when it submits monthly management reports to it.
The brokerages should publish regulatory decisions and assessments concerning their administration in their mid-term and annual reports, the statement said.
The government in May for the first time clarified standards under which illegal manipulation of stocks and futures will be prosecuted.
Listed brokerages must improve their information management system, including recording internal information, confidentiality and firewall systems as well as institute an emergency mechanism to prevent "conflict of interest and insider trading," said the China Securities Regulatory Commission in a recent statement on its website.
The CSRC also required brokerages to disclose major financial information when it submits monthly management reports to it.
The brokerages should publish regulatory decisions and assessments concerning their administration in their mid-term and annual reports, the statement said.
The government in May for the first time clarified standards under which illegal manipulation of stocks and futures will be prosecuted.
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