For the first time insurance proceeds are allowed to be invested in wealth management products of commercial banks, credit asset-backed securities of banking financial institutions and pooled fund trust plans of trust companies.
If, in the process of the CSRC's review of an M&A transaction, the listed company or the transaction counterparty that accounts for 20% or more of the transaction amount is found to have been involved in insider trading, the CSRC will terminate the review process.
Articles 64, 65 and 69 of the Rules have been revised according to a State Council decision, removing the wordings concerning costs incurred from seizure, sealing up or custody of property.
With the new revision, even if the client or another party's criminal act will seriously harm the safety of others' property, a lawyer is still bound by the confidentiality obligation.