News & Analysis as of

China China Securities Regulatory Commission (CSRC)

Seyfarth Shaw LLP

The Implementation of China’s Trial Measures for the Administration of Overseas Issuance and Listing of Securities by Domestic...

Seyfarth Shaw LLP on

Introduction On 17 February 2023, the China Securities Regulatory Commission (“CSRC“) announced the “Trial Measures for the Administration of Overseas Issuance and Listing of Securities by Domestic Enterprises”...more

Orrick, Herrington & Sutcliffe LLP

PCAOB Secures Complete Inspection Access to Audits of Chinese Companies, Removing Delisting Risks

The Public Company Accounting Oversight Board (“PCAOB”) announced on December 15, 2022 that it has secured complete access to inspect and investigate audit firms in mainland China and Hong Kong for the first time in history....more

Miller Canfield

U.S. and China Sign Statement of Protocol on China-Based Audit Firms Inspection

Miller Canfield on

The Public Company Accounting Oversight Board (PCAOB) announced on August 26, 2022, that it has signed a Statement of Protocol (SOP) Agreement with the China Securities Regulatory Commission (CSRC) and China’s Ministry of...more

White & Case LLP

The HFCAA and Consequences for US-listed China-based companies

White & Case LLP on

In December 2020, then-US president Donald J. Trump signed into law the Holding Foreign Companies Accountable Act (the "HFCAA"). This law is just one measure, among many, that have been promulgated by legislative and...more

Sheppard Mullin Richter & Hampton LLP

China Securities Regulatory Commission issued Proposed Provisions Related to Offshore Listing

In a previous post, we blogged about certain proposed rules issued by China Securities Regulatory Commission (the “CSRC”) on December 24, 2021. The proposed rules consist of general management rules on offshore listings of...more

Dechert LLP

Implementation of ETF Connect in Hong Kong

Dechert LLP on

On 27 May 2022, the Hong Kong Securities and Futures Commission ("SFC") and the China Securities Regulatory Commission ("CSRC") published a joint announcement (the "Joint Announcement") on the inclusion of eligible...more

Latham & Watkins LLP

China Issues New Rules on Cybersecurity Review for Network Platform Operators Listing Abroad

Latham & Watkins LLP on

Under the new rules Chinese NPOs holding more than 1 million individuals’ personal information must apply for a cybersecurity review prior to listing abroad. Key Points: ..Chinese network platform operators (NPOs) holding...more

Latham & Watkins LLP

China Securities Regulatory Commission Proposes Major Expansion of Shanghai London Stock Connect Programme

Latham & Watkins LLP on

The expansion would include Shenzhen Stock Exchange and potentially European stock exchanges, and would permit overseas issuers to raise capital in China through CDR listings. On 17 December 2021, the China Securities...more

Sheppard Mullin Richter & Hampton LLP

China Securities Regulatory Commission Issued Proposed Rules on Offshore Listing

On December 24, 2021, China Securities Regulatory Commission (“CSRC”) issued draft rules and measures on the direct and indirect offshore listings of onshore companies for public comments.  The deadline for submitting public...more

Morgan Lewis

China Securities Regulatory Commission Responds to Foreign Asset Managers’ FMC Applications

Morgan Lewis on

Feedback on recent applications to the China Securities Regulatory Commission provides some clarity on what will be expected from foreign asset managers wishing to establish fund management companies in the Chinese domestic...more

Jones Day

The Holding Foreign Companies Accountable Act and Related Nasdaq Proposed Rule Changes

Jones Day on

Recent measures from U.S. lawmakers and Nasdaq to impose additional requirements on U.S.-listed China-based companies could have wider implications. On May 20, 2020, the U.S. Senate unanimously passed the Holding Foreign...more

Orrick, Herrington & Sutcliffe LLP

S. 945 Introduces New Disclosure Requirements for U.S.-Listed Chinese Companies and Possible Delisting for Non-Compliance

On May 20, 2020, the U.S. Senate passed S.945, the Holding Foreign Companies Accountable Act (“Bill”), which requires certain public companies to disclose whether they are owned or controlled by a foreign government,...more

Hogan Lovells

Open for business: China ignores 'background noise' and forges ahead with opening up its financial sector

Hogan Lovells on

After the China Banking and Insurance Regulatory Commission announced 12 measures to open up China’s banking and insurance industry in May, the Financial Stability and Development Committee under the State Council announced...more

McDermott Will & Emery

Special Report - Chinese Outbound Investments - The Regulatory Landscape

McDermott Will & Emery on

CHINESE OUTBOUND INVESTMENTS – THE SELLER’S PERSPECTIVE - 1. CHINESE REGULATION – 1.1 The Chinese Regulations Applicable to Chinese Outbound Investments – Generally, any outbound investment by a Chinese enterprise...more

A&O Shearman

Latest updates on the China financial sector: lifting foreign shareholding caps

A&O Shearman on

On 11 October 2019, the China Securities Regulatory Commission (CSRC) announced a clearer accelerated timeframe for lifting foreign shareholding caps (i.e. 51%) in futures companies, public securities investment fund...more

K&L Gates LLP

Foreign Advisers to Gain a New Indirect Route to Chinese Private Pension Fund Money

K&L Gates LLP on

A combination of recent regulatory developments in the People’s Republic of China (“PRC”) has opened up the prospect that foreign advisers may now have a reliable route to accessing indirectly a potentially huge pool of PRC...more

K&L Gates LLP

CRSC Issues Update Indicating PRC Funds May Invest in Hong Kong Funds

K&L Gates LLP on

Based on recently-updated Review Guidelines of Fund of Funds issued by the China State Securities Regulatory Commission (“CSRC”) to members of the People’s Republic of China (“PRC”) asset management community, we understand...more

WilmerHale

China Moves to Open Commodity Futures Trading to Foreign Participants

WilmerHale on

Recent reports indicate that, pending regulatory approval, the Dalian Commodity Exchange in China will open trading to foreign participants in futures contracts on soybeans, soymeal, soy oil and palm oil. This is the latest...more

Dechert LLP

China Proposes Merger of QFII and RQFII Programs

Dechert LLP on

The China Securities Regulatory Commission (CSRC) earlier this year invited public comments on a new consolidated regime under draft regulations (Draft Regulations) for Qualified Foreign Institutional Investors (QFIIs) and...more

K&L Gates LLP

Draft Provisions on the Supervision and Administration of Depository Receipts Under the London-Shanghai Stock Connect Scheme...

K&L Gates LLP on

On August 31, 2018, the China Securities Regulatory Commission (“CSRC”) released a draft of the Provisions on the Supervision and Administration of Depository Receipts under the Stock Connect Scheme between the Shanghai Stock...more

Morgan Lewis

China Continues Steady Opening Up of Financial Services Sector

Morgan Lewis on

A recent announcement by Chinese authorities includes removing caps on foreign ownership in the financial services sector, and sets a clear roadmap to implement the reforms aimed at expanding foreign investment in China....more

Hogan Lovells

China opens up the securities investment fund management industry: the first in a journey of ten thousand steps?

Hogan Lovells on

On 30 June 2016, the industry self-regulating body, the Asset Management Association of China published what, on the face of it, appeared to be a fairly innocuous document entitled Questions and Answers regarding the...more

Latham & Watkins LLP

China’s Securities Regulator Issues New Green Bond Guidelines

Latham & Watkins LLP on

The China Securities Regulatory Commission (CSRC) released new guidelines (the Guidelines) on the issuance of green bonds on March 2, 2017, marking an important step in the development of what is now that world’s largest...more

Hogan Lovells

China opens up the securities investment fund management industry: the first in a journey of ten thousand steps?

Hogan Lovells on

On 30 June 2016, the industry self-regulating body, the Asset Management Association of China published what, on the face of it, appeared to be a fairly innocuous document entitled Questions and Answers regarding the...more

K&L Gates LLP

China's Commitment to Open Up Its Private Securities Investment Fund Management Industry to Foreign-Owned Entities: Opportunity...

K&L Gates LLP on

On 30 June 2016, the Asset Management Association of China ("AMAC"), a self-regulatory organization supervised by the China Securities Regulatory Commission ("CSRC"), promulgated the "Q&A regarding the Registration and Filing...more

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