About: http://data.cimple.eu/news-article/42375af101e5704385d8c49b61b05514c0e1b62c9de28688bac430a3

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About: http://data.cimple.eu/news-article/42375af101e5704385d8c49b61b05514c0e1b62c9de28688bac430a3 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	China's new securities law which simplifies regulations for stock exchange listings and tightens sanctions on insider trading came into force Sunday. The revised legislation, which was adopted at the end of last year, was "a milestone in the country's capital market reform", the official Xinhua news agency said. It cuts red tape for initial public offerings, which no longer need prior approval from the China Securities Regulatory Commission (CSRC). Companies are also no longer required to be profitable before listing but must provide precise financial information. Chinese authorities have recently begun initiatives to attract listings by large tech firms. In July, the Shanghai Stock Exchange launched its Nasdaq-style STAR board for technology stocks. The platform is responsible for registering IPO requests. The amended securities law also offers better protection for minority investors and requires companies to establish dispute resolution mechanisms to address shareholder grievances and improve transparency. Companies found guilty of making false or misleading statements or withholding important information from shareholders are liable to face penalties ranging from one to 10 million yuan ($143,000 to $1.4 million). The law also includes tougher punishments for securities fraud and insider trading. Individuals found guilty of insider trading will be fined two to 10 times the value of their ill-gotten gains. Financial sector employees, including regulators and those who work for brokerages or stock exchanges, are also barred from securities trading for their own account. bar/mtp/axn
schema:headline	China cuts IPO red tape as new securities law takes effect
schema:mentions	Insider trading Red tape Initial public offering Renminbi China China Securities Regulatory Commission Securities regulation in the United States Securities fraud Capital market Xinhua News Agency AXN Shanghai Stock Exchange
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-01 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	85 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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