Legislation roundup: asset management businesses, workplace safety and online data protection

Capital markets 

Securities Association of China, Circular on Matters Relevant to the Regulation of the Joint Engagement in the Targeted Asset Management Business by Securities Companies and Banks

中国证券业协会关于规范证券公司与银行合作开展定向资产管理业务有关事项的通知

When appointed by a bank to manage the assets of individual clients, a securities firm may not have its branches or business offices (with the exception of asset management branches) independently engage in targeted asset management business. The securities firm is not allowed to engage in the capital pool business or invest the entrusted funds in high pollution or high energy consumption industries.

Further reading

Measures for Administration of the Client Asset Management Business of Securities Companies, Jan/Feb 2013

Measures for Administration of the Client Asset Management Business of Securities Companies (Revised), Jul/Aug 2013

Work safety

State Administration of Work Safety, Provisions for the Regulation of the Work Safety of Food Production Enterprises (Draft for Comments)

国家安全生产监督管理总局食品生产企业安全生产监督管理规定(征求意见稿)

The Draft requires food processing/production enterprises with more than 300 food processing/production employees to set up a department for work safety management with full-time work safety managing personnel. Food processing/production enterprises with 300 or fewer food processing/production employees are required to employ full-time or part-time work safety managing personnel or appoint professionals to manage work safety.

See the digest for more details.

Further reading

PRC Employment Contract Law (Revised), Mar/Apr 2013

PRC Law on the Prevention and Treatment of Occupational Diseases (2011 Revision), Feb 2012

Communications 

Ministry of Industry and Information Technology, Provisions on the Protection of Personal Information of Telecommunications and Internet Users

工业和信息化部电信和互联网用户个人信息保护规定

Without the user's approval, telecommunications business operators and internet information service providers are not allowed to collect or use the personal information of their users. They are also not allowed to collect the personal information of users other than that which is necessary for the provision of services or use the personal information in purposes other than provision of services.

See the digest for more details.

Further reading

Decision on Strengthening the Protection of Online Information, Jan/Feb 2013