Circular of the General Office of the State Council on Work Related to Implementation of the Amended Securities Law
Circular of the General Office of the State Council on Work Related to Implementation of the Amended Securities Law
Circular of the General Office of the State Council on Work Related to Implementation of the Amended Securities Law
Guo Ban Fa [2020] No.5
February 29, 2020
People's governments of all provinces, autonomous regions and municipalities directly under the Central Government, and all ministries, commissions and directly affiliated institutions under the State Council,
The Securities Law of the People's Republic of China (hereinafter referred to as the "Securities Law") was amended and adopted at the 15th Meeting of the Standing Committee of the 13th National People's Congress on December 28, 2019, and shall come into force as of March 1, 2020. For the effective implementation of the amended Securities Law, relevant matters are hereby notified, with the approval of the State Council, as follows:
I. Fully Understanding the Great Significance of the Amendment to the Securities Law
The current amendment to the Securities Law systematically summarizes practical experience in capital market reform and development, supervision, law enforcement and risk prevention and control in China, and makes such institutional reforms as comprehensively implementing the registration system for the issuance of securities, significantly raising the cost of securities law violations, perfecting the investor protection system, strengthening information disclosure obligations and consolidating the responsibilities of intermediaries, thus providing a strong legal guarantee for creating a standard, transparent, open, dynamic and resilient capital market.
......
Guo Ban Fa [2020] No.5
February 29, 2020
People's governments of all provinces, autonomous regions and municipalities directly under the Central Government, and all ministries, commissions and directly affiliated institutions under the State Council,
The Securities Law of the People's Republic of China (hereinafter referred to as the "Securities Law") was amended and adopted at the 15th Meeting of the Standing Committee of the 13th National People's Congress on December 28, 2019, and shall come into force as of March 1, 2020. For the effective implementation of the amended Securities Law, relevant matters are hereby notified, with the approval of the State Council, as follows:
I. Fully Understanding the Great Significance of the Amendment to the Securities Law
The current amendment to the Securities Law systematically summarizes practical experience in capital market reform and development, supervision, law enforcement and risk prevention and control in China, and makes such institutional reforms as comprehensively implementing the registration system for the issuance of securities, significantly raising the cost of securities law violations, perfecting the investor protection system, strengthening information disclosure obligations and consolidating the responsibilities of intermediaries, thus providing a strong legal guarantee for creating a standard, transparent, open, dynamic and resilient capital market.
......