The First Rules to Encourage Honest Practices

The first rules to encourage honest practices in Chinas corking mart will be introduced this year to help the market develop steadily and guarantee investors interests, the China Securities Regulatory focus said on Friday. The rules deal with setting up archive on the integrity records of financial institutions, employees, lawyers, accountants and advisers and putting the archives in a database. The commission said it would pay attention to protect the legal rights of the institutions and individuals by setting an effective disclosure period, with selective information on illegal activity withheld for up to 10 days Based on the archives, the commission will take a series of measures including implementing an approval and checking system, as well as rigorously controlling market access. The commission also confirmed it would browse with the State Council, local governments, judicial branches and industry organizations to regulate bribable behavior. Setting up the database will increase the transparency of the chapiter market and decrease investment risks, which conforms with transnational practices, said Hong Hao, managing theater director and chief strategist at BOCOM international Holdings Co Ltd, the international investment banking and securities arm of Bank of Communications Co Ltd.

The commission also announced it would lower the reckoning standards for the risk roof reserve of securities companies in their self-operated, asset management and brokerage businesses. For instance, the calculation ratio for the risk enceinte reserve of self-operated equity securities was familiarised from 20 percent to 15 percent, and the ratio of fixed-equity securities was decreased from 10 percent to 8 percent. Hong said lowering standards for the risk capital reserve will increase the amounts of funds used for investment. This measure, in concert with a series of new policies, including increasing the qualified exotic institutional investors quota, will boost... If you want to get a near essay, order it on our website: Ordercustompaper.com

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