Administrative Measures For The Information Disclosure Of Securities Investment Fund

Original Language Title: 证券投资基金信息披露管理办法

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(June 8, 2004, China's securities regulatory Commission 19th release as of July 1, 2004) Chapter I General provisions article to standardize Securities Investment Fund (hereinafter "the Fund") information disclosure activities, protect the legitimate rights and interests of investors and related parties, under the law on securities investment funds (hereinafter funds Act), these measures are formulated.
    Second fund information disclosure obligation shall in accordance with laws, administrative regulations, and the China Securities Regulatory Commission (hereinafter "CSRC") require the disclosure of information, and to ensure the authenticity, accuracy and completeness of the information disclosed.
    Information disclosure obligations include the Fund of funds Manager, custodian, convene the general meeting of the holders of fund units of the Fund share holders and other legal provisions, administrative regulations, and the China Securities Regulatory Commission for natural persons, legal persons and other organizations.
    Third article fund information disclosure obligations people should in China SFC provides time within, will should to disclosure of fund information through China SFC specified of national newspaper (following referred to "specified newspaper") and fund management people, and fund managed people of Internet website (following referred to "website"), media disclosure, and guarantee investment people can according to fund contract agreed of time and way check out or copy public disclosure of information information.
    Article fourth of China Securities Regulatory Commission and its agencies shall conduct supervision on fund information disclosure activities.
    According to fund information disclosure activities of the CSRC, the timely development of relevant content and format standards, rules on reparation; according to the technical problems existing in the Fund information disclosure activities, timely specification solution.
    Stock exchange law for disciplined management of fund information disclosure activities. Second chapter fund information disclosure General provides fifth article public disclosure of fund information including: (a) Fund recruitment manual; (ii) Fund contract; (three) Fund managed agreement; (four) Fund share sale announcement; (five) Fund raised situation; (six) Fund contract entered into force announcement; (seven) Fund share listed trading announcement book; (eight) Fund assets net, and Fund share NET; (nine) Fund share purchase, and redemption price; (10) Fund regularly report, including
    Fund annual report, and fund half annual report and fund quarter report; (11) temporary report; (12) Fund share holds people Assembly resolution; (13) Fund management people, and fund managed people of Fund managed sector of major personnel changes; (14) involved fund management people, and fund property, and fund managed business of litigation; (15) clarified announcement; (16) China SFC provides of other information.
    Sixth article public disclosure fund information, shall not has following behavior: (a) false records, and misleading sex statement or major missed; (ii) on securities investment performance for forecast; (three) violations commitment Returns or bear loss; (four) denigrated other fund management people, and fund managed people or Fund share sale institutions; (five) posted any natural, and corporate or other organization of congratulated sex, and compliment sex or recommended sex of text; (six) China SFC ban of other behavior. Article seventh Fund for public disclosure of information shall be made in the Chinese text. Using foreign language text, fund information disclosure obligations shall guarantee the contents of the two text consistent.
    Two kinds of ambiguity of the text, the Chinese text shall prevail.
    Eighth public disclosure of information shall be in Arabic numerals; unless otherwise indicated, the currency unit for the RMB yuan.
    Chapter fundraising disclosure Nineth fund raising after the application is approved by the China Securities Regulatory Commission, the Fund Manager shall, before selling Fund units of 3rd, Fund prospectuses, Fund summary of the contract posted on newspapers and websites specified in fund managers, Fund custodians shall at the same time the Fund contract and Fund custody agreement posted on the site.
    Article tenth fund managers selling Fund units should be prepared on specific issues of Fund share sale announcements and disclose the date of the prospectus is available in specified newspapers and Web sites.
    11th Fund management in the Fund contract shall take effect the day after in specified newspapers and posted on the website the Fund contract commencement notice.
    12th open-end Fund of funds after the entry into force of the contract, the Fund Manager shall, within 45 days of the end of every six months, updating the prospectus and is available on the website will be updated on the summary of the prospectus is available in specified newspapers.
    Fund Manager shall be announced at the Congress recently submitted an updated prospectus to the CSRC and relevant updates to provide a written statement.
    Fourth chapter fund information disclosure article 13th allowed in stock exchange transactions of fund units, fund managers should be in the Fund's shares traded three days ago, specifies the announcement posted on the listing of shares of the Fund on newspapers and websites.
    14th the Fund Manager shall at least once a week the announcement of a closed-end fund net asset value and share of net worth.
    15th open Fund of funds after the entry into force of the contract, in the beginning before going through the purchase or redemption of fund units, Fund Manager should notice at least once a week the Fund net asset value and net value of fund units.
    Fund Manager should be in each open day of the next day, through websites, outlets selling Fund units as well as other media, open days of the disclosure of fund units net book value and cumulative net value of fund units.
    16th the Fund Manager shall be announced for six months, and last year a net market share of the net assets of the Fund and the Fund of the day.
    Fund managers should be prescribed in the preceding paragraph the next day of trading in the market, share of the net assets of the Fund, the Fund net book value and cumulative net value of fund units posted in specified newspapers and Web sites.
    Article 17th fund managers of open funds should fund contracts, prospectuses and other disclosure documents stated Fund units subscription and redemption prices of the calculation methods and purchase rates, and to ensure that investors in the fund shares available for sale at the outlets, inspect or copy the above information.
    Article 18th Fund Manager shall, within 90 days from the date of the end of the year, established the Fund annual report and text of the annual report posted on the Web site, specify the summary of annual report posted on the newspaper.
    Financial and accounting reports should be subject to the audit of the annual report of the Fund.
    19th the Fund Manager shall within 60 days from the date of the end of the first half, and prepared semi-annual reports of the Fund, and on the body of the half-yearly report posted on the Web site, specify the summary of the half-yearly report posted on the newspaper.
    20th the Fund Manager shall, within 15 working days of the end of each quarter, established funds quarterly report and quarterly report is available in specified newspapers and Web sites.
    21st coming into force the Fund contract in less than two months, fund managers may not be compiled when quarterly reports, semiannual reports or annual reports.
    22nd funds periodic report should be publicly disclosed on the second working day, respectively, reported the China Securities Regulatory Commission and Fund Manager main office location of China Securities Regulatory Commission agency of record.
    Reporting shall be in electronic and written report in two ways.
    Fifth chapter funds interim disclosure article 23rd fund major incidents, disclosure obligations shall prepare interim reports within two days, announce and publicly disclosed days respectively, reported the China Securities Regulatory Commission and Fund Manager main office location of China Securities Regulatory Commission agency of record.
    Qian paragraph by said major event, is refers to may on Fund share holds people interests or Fund share of price produced major effect of following event: (a) Fund share holds people Assembly of held; (ii) ahead of terminated Fund contract; (three) Fund spread raised; (four) extended Fund contract term; (five) conversion fund operation way; (six) replaced fund management people, and fund managed people; (seven) Fund management people, and fund managed people of statutory name, and residence occurred change; (Eight) Fund management people shareholders and funded proportion occurred change; (nine) Fund raised period extended; (10) Fund management people of Chairman, and General Manager and the other senior management personnel, and Fund Manager and fund managed people Fund managed sector head occurred changes; (11) Fund management people of Director in one years within change over 50%; (12) Fund management people, and fund managed people Fund managed sector of main business personnel in one years within changes over 30%; (13) involved fund management people, and fund property
    , And fund managed business of litigation; (14) Fund management people, and fund managed people by regulatory sector of survey; (15) Fund management people and Director, and General Manager and the other senior management personnel, and Fund Manager by serious administrative punishment, fund managed people and fund managed sector head by serious administrative punishment; (16) major associated trading matters; (17) Fund Returns distribution matters; (18) management fee, and managed fee, costs meter mention standard, and meter mention way and rates occurred change;
    (19) Fund share NET pricing errors up Fund share net 0.5%; (20) Fund modified hired accountants firm; (21) change fund share sale institutions; (22) Fund replaced registered registration institutions; (23) open Fund began handle purchase, and redemption; (24) open Fund purchase, and redemption rates and charges way occurred change; (25) open Fund occurred huge redemption and extension paid; (26) the series of large redemption of open-end funds and suspend accepting applications for redemption, (27) after suspend accepting applications for subscription and redemption of open-end funds return to the subscription and redemption, (28) other matters prescribed by the CSRC.

    Article 24th of convening the general meeting of the holders of fund units, the convener shall be announced at least 30th General meeting of the holders of the Fund units held, format of meetings, consideration of the matter, proceedings and voting issues.
    Legally convened their own share holders general meeting of the holders of the Fund, fund managers, Fund custodians of the Fund share holders does not perform its obligation to disclose information on matters decided by the Assembly, the convener shall perform the obligations related to information disclosure.
    25th during the term of the Fund contract, appear in any public media or in a message circulated in the market may be misleading for Fund share price impact or cause greater volatility and related disclosure obligations shall immediately after the knowledge to record the message, and will immediately report about the China Securities Regulatory Commission, funds exchange traded securities.
    Sixth chapter information disclosure management article 26th fund managers, Fund custodians shall establish and improve the management system of information disclosure, designate a person responsible for managing the information disclosure.
    27th fund information disclosure obligation to publicly disclose information, shall comply with the contents and formats of information disclosure by the CSRC-related funds the provisions of the code; specific information disclosure of funds and special funds of information disclosure and shall comply with the relevant provisions of the rules on reparation of the CSRC.
    28th article Fund managed people should according to related legal, and administrative regulations, and China SFC of provides and Fund contract of agreed, on fund management people prepared of Fund assets net, and Fund share NET, and Fund share purchase redemption price, and Fund regularly report and regularly update of recruitment manual, public disclosure of related fund information for review, and review, and to fund management people issued written file or sealed confirmed.
    29th the Fund management and fund custodian shall in specified newspapers choose to disclose information in the press.
    Fund Manager, the Fund managed by law in specified newspapers and disclosing information on the website, but can also be in other public media disclosure of information, but not earlier than specified newspapers and websites of other public media disclosure, and disclosure of the same information on different media content should be the same.
    Article 30th Fund duty to disclose the information publicly disclosed the Fund information auditing report, legal opinions of professional bodies, it shall make the work papers and related files for at least 10 years after the termination of the Fund contract.
    31st after the publication of the prospectus, shall be respectively five fund managers, Fund custodians and selling fund shares institutions homes for public inspection, copy.
    Announcement on the listing after the book was published, each Party shall maintain a Fund Manager's residence and fund exchange traded securities, available for public inspection, copy.
    Fund after the report was released on a regular basis, each Party shall maintain a Fund Administrator and custodian's residence, as well as stock exchange traded fund, available for public inspection, copy. The seventh chapter legal liability article 32nd fund information disclosure obligations and fund information disclosure obligations issued by the Fund for public disclosure of information audit reports, legal opinions and other documents of the specialized agencies shall comply with the relevant provisions of the law of the Fund.
    Breaking the rules, the China Securities Regulatory Commission shall be given administrative punishment; a suspected crime, transferred to the judicial organs according to law, be held criminally responsible.
    33rd article fund information disclosure obligations people of information disclosure activities exists violation this approach of following case of, ordered corrected, sentenced warning, and at fine; on directly is responsible for of competent personnel and other directly responsibility personnel give warning, and at fine, plot serious of, suspended or canceled Fund practitioners qualification: (a) information disclosure file not meet China SFC related fund information disclosure content and format guidelines of provides; (ii) information disclosure file not meet China SFC related presentation rules of provides;
    (C) the file records, not according to the provisions of the information disclosure provision obligations; (d) annual report of the financial report be disclosed without audit.
    34th article fund information disclosure obligations people of information disclosure activities exists following not law disclosure fund information case of, according to fund method 93rd article of provides punishment: (a) violation this approach sixth article provides; (ii) not public disclosure this approach fifth article, and 23rd article second paragraph provides of fund information; (three) not in China SFC provides of time within disclosure fund information; (four) not in specified newspaper, and website, media disclosure fund information;
    (E) failure to ensure that the investor in accordance with the Fund contract time and manner, inspect or copy the public disclosure of the information; (vi) on fund management in other public media disclosure of information earlier than the media; (VII) Fund managers of public disclosure of the same information in different media was inconsistent.
    35th article fund information disclosure obligations people of information disclosure affairs management activities exists following case of, ordered corrected, sentenced warning, and at fine; on directly is responsible for of competent personnel and other directly responsibility personnel give warning, and at fine, plot serious of, suspended or canceled Fund practitioners qualification: (a) Fund management people, and fund managed people of information disclosure management system not sound; (ii) Fund management people, and fund managed people not specified hand is responsible for management information disclosure Affairs;
    (C) the custodian funds that are not required to publicly disclose information on review, review, or confirmed; (d) the Fund management and fund trustee failing to select the disclosure newspapers designated by the CSRC.
    Article 36th Fund duty to disclose the information publicly disclosed the Fund information auditing report, the professional bodies of legal opinions and other documents without due diligence, issued documents containing false record, misleading statement or material omission, correction, given a warning and a fine.
    37th for violations of these rules and their direct responsibility personnel, credit file recorded according to law. Eighth chapter supplementary articles article 38th these measures shall take effect on July 1, 2004.
                                                            The China Securities Regulatory Commission released guidelines on information disclosure by securities investment funds (Securities Commission [1999]11) repealed simultaneously.

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