Administrative Measures for Information Disclosure on Securities Investment Funds
Administrative Measures for Information Disclosure on Securities Investment Funds
Administrative Measures for Information Disclosure on Securities Investment Funds
Order of the China Securities Regulatory Commission No.19
June 8, 2004
The Administrative Measures for Information Disclosure on Securities Investment Funds, which were deliberated and adopted at the 80th executive meeting of the China Securities Regulatory Commission on March 30, 2004, are hereby promulgated, and go into effect on July 1, 2004.
Chairman of the China Securities Regulatory Commission: Shang Fulin
Administrative Measures for Information Disclosure on Securities Investment Funds
Chapter I General Provisions
Article 1 With a view to regulating information disclosure on securities investment funds (hereinafter referred to as the "Funds"), and protecting the legitimate rights and interests of investors and other relevant parties, these Measures are formulated according to the Law of the People's Republic of China on Securities Investment Funds (hereinafter referred to as the "Investment Fund Law").
Article 2 Information disclosure obligors shall disclose the information of the funds in accordance with the laws, administrative regulations, and the rules of the China Securities Regulatory Commission (hereinafter referred to as the "CSRC"), in a true, accurate, and complete manner.
Information disclosure obligors include the administrator, the custodian, the unitholder who holds sufficient units to convene the unitholders' meeting, and other natural persons, legal persons or organizations prescribed by laws, administrative regulations, or the CSRC.
Article 3 Information disclosure obligors shall, within the time limit prescribed by the CSRC, disclose all necessary information of the funds in the national newspapers designated by the CSRC (hereinafter referred to as the "designated newspapers"), on the websites of the administrator and the custodian (hereinafter referred to as the "websites"), and other relevant media, as well as ensure that such information is available for investors to access or copy at the time and in the way as agreed in the fund contract.
Article 4 The CSRC and its local offices shall supervise the information disclosure of the funds pursuant to law.
The CSRC shall promptly draft relevant standards for the content and format of disclosure as well as the reporting rules based on the developments of information disclosure, and shall give timely standard replies to the technical issues identified in information disclosure.
Stock exchanges shall conduct self-regulatory administration on information disclosure of the funds pursuant to law.
Chapter II General Rules for Information Disclosure of the Funds
Article 5 The disclosed information of the funds shall include:
1. the fund prospectus;
2. the fund contract;
3. the fund custody agreement;
4. the unit offering circular;
5. fundraising description;
6. announcement of the fund contract going into force;
7. unit trading announcement;
8. NAV of the fund and a unit;
9. unit subscription and redemption prices;
10. regular reports, including annual, semi-annual and quarterly reports;
11. interim reports;
12. resolutions passed by the unitholders' meeting;
13. major personnel changes in the fund management department of the administrator or the custodian;
14. litigations regarding the administrator, the underlying assets, or the fund management business;
15. clarification announcements; and
16. other information prescribed by the CSRC.
Article 6 No following acts shall be allowed in information disclosure of the funds:
1. falsified records, misleading statements, or major omissions;
2. forecasts on the performance of the underlying securities;
3. illegal earning commitment or assumption of loss;
4.
......
Order of the China Securities Regulatory Commission No.19
June 8, 2004
The Administrative Measures for Information Disclosure on Securities Investment Funds, which were deliberated and adopted at the 80th executive meeting of the China Securities Regulatory Commission on March 30, 2004, are hereby promulgated, and go into effect on July 1, 2004.
Chairman of the China Securities Regulatory Commission: Shang Fulin
Administrative Measures for Information Disclosure on Securities Investment Funds
Chapter I General Provisions
Article 1 With a view to regulating information disclosure on securities investment funds (hereinafter referred to as the "Funds"), and protecting the legitimate rights and interests of investors and other relevant parties, these Measures are formulated according to the Law of the People's Republic of China on Securities Investment Funds (hereinafter referred to as the "Investment Fund Law").
Article 2 Information disclosure obligors shall disclose the information of the funds in accordance with the laws, administrative regulations, and the rules of the China Securities Regulatory Commission (hereinafter referred to as the "CSRC"), in a true, accurate, and complete manner.
Information disclosure obligors include the administrator, the custodian, the unitholder who holds sufficient units to convene the unitholders' meeting, and other natural persons, legal persons or organizations prescribed by laws, administrative regulations, or the CSRC.
Article 3 Information disclosure obligors shall, within the time limit prescribed by the CSRC, disclose all necessary information of the funds in the national newspapers designated by the CSRC (hereinafter referred to as the "designated newspapers"), on the websites of the administrator and the custodian (hereinafter referred to as the "websites"), and other relevant media, as well as ensure that such information is available for investors to access or copy at the time and in the way as agreed in the fund contract.
Article 4 The CSRC and its local offices shall supervise the information disclosure of the funds pursuant to law.
The CSRC shall promptly draft relevant standards for the content and format of disclosure as well as the reporting rules based on the developments of information disclosure, and shall give timely standard replies to the technical issues identified in information disclosure.
Stock exchanges shall conduct self-regulatory administration on information disclosure of the funds pursuant to law.
Chapter II General Rules for Information Disclosure of the Funds
Article 5 The disclosed information of the funds shall include:
1. the fund prospectus;
2. the fund contract;
3. the fund custody agreement;
4. the unit offering circular;
5. fundraising description;
6. announcement of the fund contract going into force;
7. unit trading announcement;
8. NAV of the fund and a unit;
9. unit subscription and redemption prices;
10. regular reports, including annual, semi-annual and quarterly reports;
11. interim reports;
12. resolutions passed by the unitholders' meeting;
13. major personnel changes in the fund management department of the administrator or the custodian;
14. litigations regarding the administrator, the underlying assets, or the fund management business;
15. clarification announcements; and
16. other information prescribed by the CSRC.
Article 6 No following acts shall be allowed in information disclosure of the funds:
1. falsified records, misleading statements, or major omissions;
2. forecasts on the performance of the underlying securities;
3. illegal earning commitment or assumption of loss;
4.
......