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CSRC Solicits Public Comments on Measures for Administration of Issuance and Trading of Corporate Bonds
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Chinese
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Category：Legislative Updates
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Subject：Securities
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Keywords：corporate bond; Securities Law; public comment
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Source：Pkulaw
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Publish Date：09-14-2023
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Recently, the China Securities Regulatory Commission (CSRC) issued the revised Measures for the Administration of the Issuance and Trading of Corporate Bonds for public comments, and comments may be submitted until October 8, 2023.
The revised Measures contains five aspects. First, according to the arrangements for deepening reform of the Party and state institutions, the revised edition highlights the regulation of corporate bonds, with a view to promoting coordinated development. Second, it calls for more efforts to prevent and combat counterfeiting. Issuers, as the primary persons responsible for information disclosure, should fully perform their obligations. The CSRC and its dispatched agencies and stock exchanges should ensure establishing sound mechanisms for on-site inspections. Third, the supervision of raised funds should be strengthened, and the requirements for information disclosure of raised funds should be improved. Fourth, the requirements for non-market-oriented issuance are heightened, the revised edition said, adding that the controlling shareholders and the actual controllers of issuers should not participate in non-market-oriented issuance. Fifth, any investigation against principal underwriters, securities service providers, and their related personnel should no longer operate as a cause of suspension of review and registration, in accordance with the Provisions of the China Securities Regulatory Commission on the Procedures for the Implementation of Administrative Licensing (2023 Revision).
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