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CSRC: Self-disciplined Document Issued
In order to prevent clashing with the public interest, Party Committee of China Securities Regulatory Committee recently issued regulations on the business activies of spouses and children of the leaders in the Committee. The following are the digest:
1, not permitted to be partners or senior manager in non-state-owned or non-state-holding securities firms, futures companies, and fund management companies.
2, not permitted to set up public accounting(auditing) firms, law offices that have the certificate from CSRC to engage in futures business independently or jointly; notpermitted to be employed in those office.
3, not permitted to set up investment consultation companies, asset-evaluation institutions,credit standing evaluation institutions that have the certificate from CSRC to engage in futures business independently or jointly or to be employed in the above institutions.
4, not permitted to be employed in joint-ventures or soly foreign-funded enterprises that could engage in funds management business authorized by CSRC.
5. all of the staff in securities supervional system,including their spouses and their children not permitted to trade stocks.
6, the regulations apply to the chairman, vice chairman, deputy secretary-general, secretary-general, director or vice director of each department or the counterpart in each department.Iterm 5 and 6 apply to other staff within the securities supervional system.(
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