Law Digest

• China Insurance Regulatory Commission, Circular on Matters Relevant to Thorough Implementation of the «Standardising Guidelines for the Management of Compensation of Insurance Companies (Trial Implementation)»

  中国保险监督管理委员会关于贯彻实施《保险公司薪酬管理规范指引（试行）》有关事项的通知

  Housing and travel allowances of foreign expatriates of insurance companies may be excluded from their bonus limits.

  December 17, 2012

• Other Recent Legislation

   National legislation Banking Guiding Opinions on Innovation in the Capital Instruments of Commercial Banks 關于商業銀行資本工具創新的指導意見L3600/12.11.29 Constitution…

  December 17, 2012

• China Securities Regulatory Commission, Provisions for the Administration of Sale of Financial Products by Securities Companies on an Agency Basis

  中国证券监督管理委员会证券公司代销金融产品管理规定

  Securities companies are allowed to be financial product sales agents.

  December 14, 2012

• Ministry of Finance, State Administration of Taxation and China Securities Regulatory Commission, Circular on Issues Relevant to the Implementation of a Policy of Graduated Individual Income Tax on Dividends and Bonuses from Listed Companies

  财政部、国家税务局、中国证券监督管理委员会关于实施上市公司股息红利差别化个人所得税政策有关问题的通知

  The dividend tax reduced to encourage investors to hold shares for the long term.

  December 07, 2012

• China Securities Regulatory Commission, Guidelines on the Industrial Classification of Listed Companies (Revised in 2012)

  中国证券监督管理委员会上市公司行业分类指引 (2012年修订)

  The industrial classification of listed companies now needs to be revised every quarter.

  December 07, 2012

• China Securities Regulatory Commission, Measures for Administration of the Client Asset Management Business of Securities Companies

  中国证券监督管理委员会证券公司客户资产管理业务管理办法

  Pooled asset management plans of securities companies now only require record filing.

  December 05, 2012

• China Securities Regulatory Commission, Measures for the Regulation of Qualifications of the Directors, Supervisors and Senior Management Personnel of Securities Companies (Revised)

  中国证券监督管理委员会证券公司董事、监事和高级管理人员任职资格监管办法 (修订)

  Authority to approve qualifications of senior management of securities companies delegated to agencies of the CSRC.

  November 29, 2012

• China Securities Regulatory Commission, Tentative Provisions for the Administration of the Subsidiaries of Securities Investment Fund Management Companies

  中国证券监督管理委员会证券投资基金管理公司子公司管理暂行规定

  Registered capital of a subsidiary of a fund management company is not allowed to be less than Rmb20 million.

  November 15, 2012

• Other Recent Legislation This Month

  National legislationInvestment instrumentsImplementing Rules for the Targeted Asset Management Business of Securities Companies 证券公司定向资产管理业务实施细则…

  November 12, 2012

• Shenzhen City, Tentative Measures on Encouraging the Development of Headquarters Enterprises

  深圳市鼓励总部企业发展暂行办法

  Shenzhen offers awards up to Rmb50 million for new headquarters.

  November 12, 2012