China Securities Regulatory Commission


China Securities Regulatory Commission
China Securities Regulatory Commission
中国证券监督管理委员会
Agency overview
Formed 1992
Jurisdiction People's Republic of China
Headquarters China Beijing, People's Republic of China
Agency executive Shang Fulin, Chairman
Parent agency State Council
Website
www.csrc.gov.cn

The China Securities Regulatory Commission (CSRC) (simplified Chinese: 中国证券监督管理委员会; traditional Chinese: 中國証券監督管理委員會; pinyin: Zhōngguó Zhèngquàn Jiāndū Guǎnlǐ Wěiyuánhuì; often abbreviated simplified Chinese: 中国证监会; traditional Chinese: 中國証監會; pinyin: Zhōngguó Zhèng Jiān Huì) is an institution of the State Council of the People's Republic of China (PRC), with ministry-level rank.[1] It is the main securities regulator of the PRC.

Contents

Function

China's Securities Law (passed December 1998, effective July 1, 1999), the nation's first comprehensive securities legislation, grants CSRC "authority to implement a centralized and unified regulation of the nationwide securities market in order to ensure their lawful operation."[2] The CSRC oversees China's nationwide centralized securities supervisory system, with the power to regulate and supervise securities issuers, as well as to investigate, and impose penalties for, "illegal activities related to securities and futures."[3] The CSRC is empowered to issue Opinions or Guideline Opinions, non-legally binding guidance for publicly-traded corporations.[3] Its functions are similar to that of the Securities and Exchange Commission in the United States.

Among its responsibilities include:

  • Formulating policies, laws and regulations concerning markets in securities and futures contracts.
  • Overseeing issuing, trading, custody and settlement of equity shares, bonds, investment funds.
  • Supervising listing, trading and settlement of futures contracts; futures exchanges; securities and futures firms.

Indicative of the role of the CSRC, China's highest court, the Supreme People's Court–at least as of 2004–has declined to handle securities-related litigation directly, instead deferring such judgments to the CSRC.[4]

The headquarters for the China Securities Regulatory Commission is in Beijing. Focus Place 19, Jin Rong Street, West District Beijing 100032.

Organization Structure

  • General Office
  • Department of Public Offering Supervision
  • Department of Market Supervision
  • Departmentof Intermediary Supervision
  • Department of Listed Company Supervision
  • Department of Investment Fund Supervision
  • Department of Futures Supervision
  • Enforcement Bureau I
  • Enforcement Bureau II
  • Department of Legal Affairs
  • Department of Accounting
  • Department of International Cooperation
  • Department of Personnel & Education
  • Publicity Office of the CPC CSRC Committee
  • Compliances Office
  • CPC CSRC Committee
  • Research Center
  • Office of Branches Coordinating Committee
  • Information Center
  • Headquarter Service Center

See also

References

  1. ^ Huang, C.W. "Company Law and the Independent Director System in Contemporary China." Hastings International and Comparative Law Review, Winter 2008 (Vol. 31), p. 411.
  2. ^ William I. Friedman, 27 Brook. J. Int'l L. 477 (2002). "One Country, Two Systems: The Inherent Conflict Between China's Communist Politics and Capitalist Securities Market." pg. 484-85
  3. ^ a b Huang, C.W. "Company Law and the Independent Director System in Contemporary China." Hastings International and Comparative Law Review, Winter 2008 (Vol. 31), note 1.
  4. ^ Dina J. Yin, 57 Rutgers L. Rev. 397 (2004). "Investor Regulations: An American Answer to a Chinese Problem. pg. 421.

External links


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