China Securities Regulatory Commission Publicly Solicits Comments on Amending the "Provisions on Strengthening Confidentiality and File Management Related to Overseas Issuance and Listing of Securities"
Beijing, April 2 (Reporter Zhao Zhanhui) The reporter learned from the China Securities Regulatory Commission: In order to support enterprises to go public overseas in accordance with laws and regulations, improve the standardization of related confidentiality and file management in the process of overseas issuance and listing, and promote deepening For cross-border regulatory cooperation, the China Securities Regulatory Commission, together with the Ministry of Finance, the State Secrecy Administration, and the State Archives Administration, revised the "Regulations on Strengthening Confidentiality and File Management Related to the Issuance of Securities Overseas and Listing", and formed the "Regulations on Strengthening the Overseas Issuance of Securities by Domestic Enterprises". Regulations on Confidentiality and Archives Management Work Related to Listing (Draft for Comments)", and solicit public comments.
In response to new situations and new problems related to overseas issuance and listing in recent years, this revision intends to make the following adjustments to the original regulations: First, to improve the legal basis, and to add relevant laws such as the Accounting Law of the People's Republic of China and the Law of the People's Republic of China on Certified Public Accountants Regulations as superordinate law.
The second is to adjust the scope of application, which is linked with the "Regulations of the State Council on the Administration of the Overseas Issuance and Listing of Securities by Domestic Enterprises (Draft for Comment)", which is clearly applicable to the direct and indirect overseas listing of enterprises.
The third is to clarify corporate information security responsibilities, and provide clearer and clearer guidelines for domestic companies, relevant securities companies, and securities service institutions in terms of confidentiality and file management during overseas securities issuance and listing activities by domestic companies.
Fourth, improve cross-border regulatory cooperation arrangements to provide institutional guarantees for safe and efficient cross-border regulatory cooperation.
The CSRC stated that it will continue to support all kinds of qualified companies to go public overseas, and continuously deepen cross-border regulatory cooperation. It is believed that the revision of the regulations will further improve the compliance level of overseas listed companies and promote the healthy and orderly development of overseas listing activities.