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Measures for the Compliance Management of Securities Companies and Securities Investment Fund Management Companies Issued
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Chinese
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Category:Legislative Updates
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Keywords:securities; compliance
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Source:Pkulaw
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Publish Date:06-29-2017
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Recently, the China Securities Regulatory Commission (CSRC) issued the Measures for the Compliance Management of Securities Companies and Securities Investment Fund Management Companies, effective from October 1, 2017. According to the Measures, compliance by all employees is further strengthened, and the compliance management responsibilities of the board of directors, senior executives and chief compliance officer are specified. Compliance is not only a responsibility of the compliance management department but also a requirement for all employees of all departments. The organizational system of compliance management should be optimized, and basic standards should be proposed for the construction of compliance system, department setup, and number and quality of compliance personnel of securities fund trading institutions. The professional and occupational capabilities of chief compliance officers should be enhanced, and there are higher requirements for their professional experiences and legal quality.
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