Decision on Revising and Abolishing Thirteen Normative Documents Including the Administrative Provisions on Subordinated Debts of Securities Companies
Decision on Revising and Abolishing Thirteen Normative Documents Including the Administrative Provisions on Subordinated Debts of Securities Companies
Decision on Revising and Abolishing Thirteen Normative Documents Including the Administrative Provisions on Subordinated Debts of Securities Companies
Announcement of the China Securities Regulatory Commission [2017] No.16
December 7, 2017
The Decision on Revising and Abolishing Thirteen Normative Documents Including the Administrative Provisions on Subordinated Debts of Securities Companies is hereby promulgated and shall come into effect as of the date of promulgation.
Decision on Revising and Abolishing Thirteen Normative Documents Including the Administrative Provisions on Subordinated Debts of Securities Companies
Pursuant to the Circular of the General Office of the State Council on Further Sorting out Rules and Normative Documents Involved in the Reform of Streamlining Administration, Delegating Powers and Improving Regulation and Services (Guo Ban Fa [2017] No.40), the China Securities Regulatory Commission ("CSRC") has sorted out the rules and normative documents involved in the reform of "streamlining administration, delegating powers and improving regulation and services". After sorting them out, the CSRC has decided to:
I. Amend some clauses of ten normative documents. (Appendix I)
II. Annul three normative documents. (Appendix II)
The Decision on Revising and Abolishing Thirteen Normative Documents Including the Administrative Provisions on Subordinated Debts of Securities Companies shall come into effect as of the date of issue.
Appendixes: I. Normative Documents that the CSRC Has Decided to Amend
I. Article 8 of the Administrative Provisions on Subordinated Debts of Securities Companies is deleted.
One article is added as Article 9: "Where a securities company borrows or issues subordinated debt, it shall, within five working days of the date of completion (in the case of issue in installments, after the date of completion of each phase of issue), submit the following record-filing documents to the dispatched branch of the CSRC at the place where it is located:
1. Record-filing report. It shall at least include the following contents: the profile of the subordinated debt borrowed or issued by the securities company, and the description of the conformity of the securities company to the conditions for borrowing or issuing the subordinated debt;
2. Prospectus or subordinated debt contract;
3. List of creditors. It shall include the names of creditors, amounts of creditors' rights as well as the association relationships with debt parties concerned such as the securities company;
4. Income receipts of debt capital bank; and
5. Other documents that the CSRC requires to be submitted."
Article 11 is amended as: "Where a securities company changes a subordinated debt contract (including a renewed one), it shall, within five working days of the date of completion, submit the following record-filing documents to the dispatched branch of the CSRC at the place where it is located:
1.
......
Announcement of the China Securities Regulatory Commission [2017] No.16
December 7, 2017
The Decision on Revising and Abolishing Thirteen Normative Documents Including the Administrative Provisions on Subordinated Debts of Securities Companies is hereby promulgated and shall come into effect as of the date of promulgation.
Decision on Revising and Abolishing Thirteen Normative Documents Including the Administrative Provisions on Subordinated Debts of Securities Companies
Pursuant to the Circular of the General Office of the State Council on Further Sorting out Rules and Normative Documents Involved in the Reform of Streamlining Administration, Delegating Powers and Improving Regulation and Services (Guo Ban Fa [2017] No.40), the China Securities Regulatory Commission ("CSRC") has sorted out the rules and normative documents involved in the reform of "streamlining administration, delegating powers and improving regulation and services". After sorting them out, the CSRC has decided to:
I. Amend some clauses of ten normative documents. (Appendix I)
II. Annul three normative documents. (Appendix II)
The Decision on Revising and Abolishing Thirteen Normative Documents Including the Administrative Provisions on Subordinated Debts of Securities Companies shall come into effect as of the date of issue.
Appendixes: I. Normative Documents that the CSRC Has Decided to Amend
I. Article 8 of the Administrative Provisions on Subordinated Debts of Securities Companies is deleted.
One article is added as Article 9: "Where a securities company borrows or issues subordinated debt, it shall, within five working days of the date of completion (in the case of issue in installments, after the date of completion of each phase of issue), submit the following record-filing documents to the dispatched branch of the CSRC at the place where it is located:
1. Record-filing report. It shall at least include the following contents: the profile of the subordinated debt borrowed or issued by the securities company, and the description of the conformity of the securities company to the conditions for borrowing or issuing the subordinated debt;
2. Prospectus or subordinated debt contract;
3. List of creditors. It shall include the names of creditors, amounts of creditors' rights as well as the association relationships with debt parties concerned such as the securities company;
4. Income receipts of debt capital bank; and
5. Other documents that the CSRC requires to be submitted."
Article 11 is amended as: "Where a securities company changes a subordinated debt contract (including a renewed one), it shall, within five working days of the date of completion, submit the following record-filing documents to the dispatched branch of the CSRC at the place where it is located:
1.
......