The relevant company can apply for the issuance of CDR soon after one month2018-05-04 20:25:52 96 ℃
China Securities (China Daily) (Reporter Ma Yi) “Administrative Measures on the Depositary Receipts and Transaction Management” (hereinafter referred to as “CDR Measures”) formally solicit opinions from the public. According to the working procedures, the period for soliciting comments for the "CDR Measures" is one month. After the opinions are completed, the necessary amendments will be made and the corresponding procedures will be issued and implemented.
Shangguo Daily reporter learned from authoritative sources that, in addition to the "CDR approach," a series of normative documents related to this are being developed. These regulatory documents serve as supporting specifications for the "CDR approach." It will be implemented synchronously or later in the “CDR Measures” after fulfilling the internal consultation of the industry.
After the formal issuance of the “CDR Measures” and supporting rules, companies will be able to issue CDR declarations in accordance with the relevant requirements, and the SFC will also initiate the processing of related applications.
According to the time of normal procedures, the fastest will be more than a month later.
Clearance of the six contents of the CDR issuance transaction approach
China Securities News (Reporter Ma Wei) China Securities Regulatory Commission spokesperson Chang Depeng said on the 4th that the “Regulations on the Administration of Depositary Receipts and Transaction” (hereinafter referred to as “CDR Measures”) will formally be open to the public for comments. He introduced that the "CDR approach" mainly includes the following six aspects:
First, the principle of legal application and basic supervision is clarified.
Second, make institutional arrangements for the issuance and listing of CDRs, set out the basic conditions and procedures for issuance, and make principled provisions for the issuance of CDR refinancing.
Third, the CDR's information disclosure requirements were clarified and the issuer was the subject of information disclosure responsibility.
Fourthly, a CDR depository and custody system was established to clarify the accreditation requirements of depositaries.
Fifth, the relevant requirements for investor protection have been clarified, the principle of equal protection for investors and the special protection principle for investors, as well as the protection system for suspension, termination, and delisting of CDR, etc., have been stipulated.
The sixth step is to strengthen supervision and law enforcement and clarify the legal responsibilities of related parties.
The CDR issuance trading method reserves space for Shanghai Luntong./strong>
China Securities (China Daily) (Reporter Ma Wei) "Registration and Issuance Management of Depositary Receipts" (hereinafter referred to as the "CDR Measures") will be officially open to the public for comments today.
Secretary of the China Securities Regulatory Commission Chang Depeng said on the 4th that according to the policy arrangement, the Shanghai-Honglun mechanism, which is being promoted, also intends to use the method of mutual deposit of depositary receipts to achieve interconnection between the two markets.
Therefore, the "CDR approach" aims to standardize the basic system of CDRs in the form of departmental regulations, but in addition to clarifying the requirements for the domestic capital market to serve red-chip companies to issue CDRs, it is also the next step. The Shanghai Luntong mechanism has reserved the institutional space and is well prepared.Favourite complaint
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