China Securities Regulatory Commission, Trial Provisions for the Establishment of Subsidiaries by Securities Companies
中国证券监督管理委员会证券公司设立子公司试行规定
Parent securities companies not allowed to compete with their subsidiaries.
Date:
February 2008
CLP Reference: 3700/07.12.28 (2)
PRC Reference: 证监机构字 [2007] 345号
Promulgated: 28 December 2007
Keywords (click to search): [securities subsidiaries] [wholly-owned subsidiaries] [securities companies] [directly or indirectly hold equity or shares] [conflict of interest] [compete with subsidiaries]
Issued: December 28 2007
Effective: January 1 2008
Applicability: For the purposes of these Provisions, the term "subsidiary" means a securities company established in accordance with the Company Law and the Securities Law, engaging in one or more securities businesses approved by the China Securities Regulatory Commission (the CSRC) and controlled by a securities company (Article 2).
Main Contents: With the approval of the CSRC, a securities company may establish a wholly-owned subsidiary or, alternatively, invest in and establish a subsidiary together with another investor that satisfies the conditions for being a shareholder of a securities company as specified in the Securities Law (Article 4).
To continue reading this article, you must be a subscriber.
The rest of this article is available to subscribers only. Subscribe now to continue reading this article and to have full access to all other articles and full-text translations.