Interim Measures For The Supervision And Administration Of Securities And Futures Market Integrity

Original Language Title: 证券期货市场诚信监督管理暂行办法

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Read the untranslated law here: http://www.chinalaw.gov.cn/article/fgkd/xfg/gwybmgz/201210/20121000377276.shtml

Interim measures for the supervision and administration of securities and futures market integrity

    (July 25, 2012, China Securities Regulatory Commission, the 80th release come into force on September 1, 2012) Chapter I General provisions

    First in order to strengthen the Securities and futures market integrity, protect the legitimate rights and interests of investors, maintain order in the futures market, and promote the healthy and stable development of securities and futures markets, in accordance with the relevant laws and administrative regulations, these measures are formulated.

    Second, China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission) the Securities and futures market to establish a unified national credit file database (hereinafter referred to as file integrity), securities and futures market integrity information.

    Article integrity information recorded in the credit file definition, acquisition and management, credit information public, query, integrity constraints, incentives and guidance, these measures shall apply.

    Article citizens (natural persons), legal persons or other organizations engaged in the Securities and futures market activity, should be good faith, abide by the laws, administrative rules and regulations and self-regulatory rules on law, prohibits fraud, insider trading, market manipulation and other damage to the interests of investors are not acts of good faith.

    Fifth China Securities Regulatory Commission to encourage, support, honesty and credibility of citizens, legal persons or other organizations engaged in the Securities and futures market activity, enforce integrity constraints, encouragement and guidance.

    Sixth article of China Securities Regulatory Commission and other departments under the State Council, local governments, the judiciary, industry groups integrity supervision cooperation mechanism established to implement credit information sharing, promote a sound social credit system.

    Chapter II acquisition of the integrity

Article seventh the following securities and futures market activity of citizens, legal persons or other organizations of credit information entered into a credit file:

(A) the Securities and Futures practitioners and practitioners;

(B) issuers, listed companies and their directors, supervisors, senior management, major shareholders and actual controllers;

(C) securities companies, fund management companies and futures companies and their directors, supervisors and senior management, shareholders and actual controllers;

(D) the accounting firms, law firms, sponsors, financial advisers, asset evaluation agencies, investment consulting services to securities and futures institutions, including institutions, credit rating agencies and their workers;

(E) Fund for independent sales organizations, Fund evaluation institutions and their relevant staff, non-public fund managers, qualified foreign institutional investor, qualified domestic institutional investors and major investment managers, Chief Representative of representative offices of overseas securities institutions and;

(F) providing information technology services for the Securities and futures industry or suppliers of hardware and software products;

(VII) for the issuer, listing company provides investor relations management service and other public services and its staff;

    (VIII) other securities futures market activities related to the illegal ' dishonest behavior of citizens, legal persons or other organizations.

Credit information in eighth article of the rules include:

(A) the citizen's name, gender, nationality, identity document number, legal person or other organization names, addresses, organization code, and other basic information;

(B) the China Securities Regulatory Commission and other departments, and other provincial and ministerial level and above units and securities and futures exchanges, stock futures industry association, securities registration and clearing institution national securities and futures markets such as industry organizations (hereinafter referred to as the Securities and futures markets industry organization) to recognize, reward and evaluated, as well as credit rating agency credit-rating;

(C) administrative licensing decisions made by the China Securities Regulatory Commission and its agencies;

(Iv) issuers, listed companies and their shareholders, actual controllers, directors, supervisors and senior management staff, material asset reorganization and public commitments made by the purchaser does not fulfil or does not perform as scheduled, is to perform, has been duly fulfil conditions;

(E) the China Securities Regulatory Commission and its agencies to make administrative punishment decision, market entry and regulatory measures;

(F) the Securities and futures market industry organization's implementation of disciplinary measures and management measures stipulated by laws, administrative regulations and rules;

(VII) for alleged violation of securities and futures are the China Securities Regulatory Commission and its agencies investigate and take enforcement measures;

(VIII) arrested for crime of securities and futures are the China Securities Regulatory Commission and its agencies transferred to the public security organs and people's procuratorates;

(I) the Securities and futures or other crime was sentenced by court;

(10) the Securities and Futures infringement, breach was large civil liability judgments;

(11) due to illegal business activities by banks, insurance, financial, tax, environmental, industry and commerce, customs and other relevant authorities shall receive administrative punishments;

    (12) other acts contrary to the principle of honesty and credit information.

    Nineth article this article seventh column by citizens, legal persons or other organizations the commendations and awards, rankings and ratings information, on its own and its agencies report to the CSRC, and credited to the credit file.

    Tenth Article eighth of this approach (a), (c) to (h) credit information by the CSRC and its agencies, securities and futures markets Trade Union in accordance with its duties collected and credited to the credit file.

    11th article this article eighth paragraph (IX) to (11) of credit information, by the China Securities Regulatory Commission and its agencies through the disclosure of Government information, information sharing and other means collected and credited to the credit file.

    12th entry in the file integrity the integrity of information corresponding to the decisions or actions through legal procedure to withdraw, change, the China Securities Regulatory Commission and its agencies will be removed accordingly, modify the integrity information.

13th article of the offence provided for in article eighth breach of information in your credit file the effectiveness for a period of 5 years, but because of violations of securities and futures are administrative penalties, market entry, criminal punishment of illegal information, shall be for a period of 10 years.

    The period of time specified in the preceding paragraph, since the treatment of unlawful credit date of decision, administrative penalties, the marketing ban, criminal penalties, punishment is completed or the date of the expiration of the ban.

    Chapter of integrity information and queries public

    14th article eighth of this approach (b), (c), (d), (f) information and (e), of the administrative punishment, and market banned according to law to the public.

    Article 15th 14th provides integrity information beyond these measures, citizens, legal persons or other organizations in accordance with this Regulation apply to the CSRC and its agencies query.

16th citizens, legal persons or other organizations apply for credit information, in line with one of the following conditions, the China Securities Regulatory Commission and its agencies should be handled:

(A) citizens, legal persons or other organizations for check your credit information;

(B) issuers, listed companies apply for the query to be appointed directors, supervisors and senior managers of credit information;

(C) issuers, listed companies apply for the query to be involved in the company merger and reorganization of the credit information of citizens, legal persons or other organizations;

(Iv) issuers, listed companies apply for the query to be commissioned by securities companies, securities service institutions and their relevant employees of integrity of information;

(E) securities companies and securities service institution for professional services provided by its issuer, the listed company and its directors, supervisors and senior management officers, controlling shareholders and actual control of the integrity of information;

(F) securities companies, fund management companies and futures companies, securities and Futures service queries the application have appointments or proposed appointments of Directors, supervisors, senior management or other employees of credit information;

    (VII) other conditions stipulated by the CSRC.

17th a citizen, legal person or other organization to submit credit information inquiries, should provide the following materials:

(A) application for querying;

(B) proof of identity;

    (C) these measures 16th (ii) to (vi) query application, queries the application shall be signed or sealed by the query object agree that the written consent of the other files or query object.

    Article 18th requests submitted by citizens, legal persons or other organizations, eligible materials are available, the China Securities Regulatory Commission and its agencies shall be received within 5 working days from the date of application for feedback.

    Article 19th of citizens, legal persons or other organizations for query integrity information classified as State secrets, other citizens, legal persons or other organizations of business secrets and personal privacy, the China Securities Regulatory Commission and its agencies not to query, but it should be explained in the reply.

20th recorded in the credit file of a citizen, legal person or other organization, its credibility this way to 12th, the information provided for in article should be deleted, modified, or have other significant and obvious error, can apply to the CSRC and its correction. The China Securities Regulatory Commission and its agencies receive citizen, legal person or other organization information corrected application, shall, within 15 working days for processing, and to inform applicants of the results.

    Does this approach 12th article should be deleted, modified, or other significant and obvious error and should be corrected.

    21st a citizen, legal person or other organization through the query to obtain credit information shall not disclose or provide to others to use, not for profit use, processing or treatment shall not be used for other illegal purposes.

    Fourth chapter of integrity constraints, incentives and guidance

    22nd the CSRC and its agencies audit administrative Licensing application, shall consult the applicant and interested parties involved in the application of the credit file.

    23rd article China SFC and sent institutions audit administrative license application, found applicants and about party has this approach eighth article subsection (four) items in the of not perform or not as scheduled perform commitment information, or subsection (five) items to subsection (11) items provides of illegal promise information of, can requirements applicants or by applicants delegate for administrative license application provides Securities Futures service of about institutions, for oral or written description, and explained.

24th article 23rd according to these measures provide written instructions, explanations, the applicant or the Securities and futures sector should reply in writing within the prescribed time.

Written responses to the following description:

(A) basic conditions of integrity information of the relevant facts involved;
(B) the departments concerned on the implementation of the decisions made by the applicant and other follow-up information, and provide supporting documents;

(C) the Securities and futures sector information about the integrity of administrative licensing items affect the analysis.

    25th the applicant or the Securities and futures sector, reply in writing is not clear, relevant analysis and explanation is insufficient, the China Securities Regulatory Commission and its agencies can be direct or relevant bodies on matters related to entrusted to carry out the verification.

    Article 26th under this article 23rd, 24th, 25th time for written descriptions, explanations, or verification, excluding administrative license audit the statutory time limit.

27th administrative license applicants and interested parties involved in the application of this article eighth paragraph (d) of information fails to perform or not perform as scheduled commitments, or (v) to (11), one of the illegal breach of information provided, legal not to permit conditions, the China Securities Regulatory Commission and its agencies shall be made not to permit decisions.

    Applicants, as well as information about the good faith of the parties involved in the application scope is not a statutory grant licensing conditions, but relevant laws and administrative rules and regulations to the statutory conditions of administrative licensing of honesty and credit requirements, provides for the principle or set the authorization clause, the China Securities Regulatory Commission and its agencies can be considered related factors such as credit conditions, carefully review the applicant's administrative Licensing application.

    28th article non-administrative license matters, and business innovation pilot application people has this approach eighth article subsection (four) items in the of not perform or not as scheduled perform commitment information, or subsection (five) items to subsection (11) items provides of illegal promise information one of of, China SFC and sent institutions can suspended or not approval, and arrangements, but applicants can proved the illegal promise information and non-administrative license matters or business innovation obviously has nothing to do of except.

    29th the CSRC and its agencies on non-administrative license approval, business innovation pilot arrangement, may within the scope stipulated by laws and administrative regulations, credit for the same condition better priority approval and making arrangements.

    30th article China SFC and sent institutions in on citizens, and corporate or other organization for administrative punishment, and implementation market ban into and take supervision management measures in the, can check out integrity archives, in integrated consider party violations of nature, and plot and damage investors lawful rights and interests of of degree of based Shang, will party of integrity status as determine punishment range, and ban into during and supervision management measures category of discretionary factors.

    31st the CSRC and its agencies in carrying out the day-to-day supervision of supervision and inspection work, can be considered to be supervision of credit institutions and their personnel, targeted on-site examinations and off-site, or adjust, arrange on-site inspections, frequency and content of the object.

32nd citizens, legal persons or other organizations published the Securities and futures market comments, referred to the fact that the content is not consistent with the actual situation, or that there are other significant misleading the public, the China Securities Regulatory Commission and its agencies can be issued letters of credit concerns entered into a credit file, and can be related to their work unit, informed the respective authorities or industry self-regulatory organizations.

Securities and Futures investment consultation institutions and publicly release comment in violation of regulations of the Securities and futures market, in accordance with the relevant provisions and penalties.

    Citizens, legal persons or other organizations to take advantage of the publicly issued securities and futures market reviews insider trading, market manipulation and other illegal acts, shall be punished in accordance with law constitutes a crime, shall be investigated for criminal responsibility by judicial organs. Article 33rd organization of securities futures market should be to educate and encourage its members and employees comply with the law, honesty and credibility.

To comply with the law, members of the honesty and credit in China and may be given commendations and awards.

    China Securities Regulatory Commission encourage the Securities and futures market integrity assessment system of industry organizations, such as the establishment of the Securities and futures market and organization to carry out the assessment of the integrity of both the industry and the market situation, and will evaluate the results to be published.

Article 34th listed companies, securities companies, fund management companies and futures companies and service organizations should constantly improve the internal integrity of securities and Futures supervision and constraint system, raise the level of good faith.

    The China Securities Regulatory Commission and its agencies on the provisions of the preceding paragraph the internal integrity supervision and restraint system mechanisms for inspection, guidance, and will inform the inspection in the industry and within their respective jurisdictions.

Article 35th of the present article eighth paragraph (iv) fails to perform or not perform as scheduled commitments in the information, or (e) to paragraph (11) of illegal breach of information of citizens, the China Securities Regulatory Commission and its local agencies, the Securities and futures markets Trade Union may not appoint its holding the following positions:

(A) members of the Board, the establishment of the issuance examination Committee of China Securities Regulatory Commission;

(B) the SFC m members of the Audit Committee of listed companies in China;

    (C) the China Securities Regulatory Commission and its agencies, the Securities and futures industry organizations have set up auditing, monitoring, verification, advisory role of other members of the organization.

    The fifth chapter management and supervision

Article 36th integrity of China Securities supervision and Administration Department shall perform the following duties:

(A) define the integrity information, organized collection of securities and futures markets;

(B) to establish, manage files, organize and monitor the integrity of information recorded;

(C) to organize and handle open, query and share credit information;

(D) to establish, coordinate the implementation of credit supervision, constraint and incentive mechanism;

    (E) the provisions of the CSRC's other good faith duty of supervision and management and services.

    37th CSRC agency responsible for receiving, handling his domicile in this area citizens, legal persons or other organizations charge credit information under this regulation is made to reporting, integrity matters such as information requests, credit information request.

    Article 38th of China Securities Regulatory Commission and its agencies, the Securities and futures markets industry organization, is not in accordance with this approach provide for timely, truthfully, accurately and completely recorded in the credit information, adverse consequences, in accordance with the relevant provisions of the relevant persons to administrative sanctions in serious cases, be investigated for legal responsibility according to law.

39th citizens, legal persons or other organizations against their own declarations and legal reporting, notices of credit information is responsible for the authenticity, accuracy, and completeness.

    Citizens, legal persons or other organizations reporting integrity information, reports and announcements, to be false, the China Securities Regulatory Commission and the Agency ordered corrective action can be taken, monitoring talk, issue a letter of warning, ordered public regulatory measures; the circumstances are serious, shall be investigated for legal responsibility according to law.

    40th a citizen, legal person or other organization in violation of the rules acquisition, use, and disclosure of credit information, the China Securities Regulatory Commission and its agencies can order the correct letter of warning, talk of supervision, supervision and management measures the circumstances are serious, shall be investigated for legal responsibility according to law.

    The sixth chapter supplementary articles

    41st the CSRC and its agencies for credit information queries, in addition to charging costs of printing, copying, binding, mailing costs, shall not be charged other fees.

    42nd securities industry organizations in the fulfilment of management responsibilities in the futures market, the query file integrity, enforce integrity constraints, incentives, and reference to the relevant provisions in these procedures. 43rd these measures shall come into force on September 1, 2012.