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Recently, Shenzhen Stock Exchange (SZSE) completed the 3rd round of rationalization of proceeding regarding examination, verification and registration, and disclosed List of Proceeding of Examination, Verification and Registration and Guidelines on Handling Proceeding of Examination, Verification and Registration. The move is in response to State Council’s instruction of ‘deepening the reform on administrative examination and approval system, and continued simplification of administration and decentralization ’, and also an attempt to further improve the quality, efficiency and transparency of self-discipline, supervision and services.
Relevant principal from SZSE pointed out that, after the rationalization, SZSE have simplified the number of proceedings of examination, verification and registration to 16 from 31, which is the number of 2nd rationalization in 2009, decreasing 48%. Among these proceedings, the number of examination and verification proceedings has been reduced from 15 to 8, a decrease of 46%; and that of registration proceedings has been reduced from 16 to 8, decreasing 50%. The 16 proceedings after adjustment are involved with all the business organized and supervised by SZSE, including membership qualification management, seats and trading unit management, application for securities listing and trading resumptions, examination before information disclosure, fixed assets business, etc..
As the self-discipline and management organization in the securities market, SZSE, although have not been endowed with administrative authority, have certain verification and registration functions that would somewhat affect the rights and obligations of market participants in the daily supervision. Examination and verification proceeding, which based on laws, administrative regulations and provisions of regulations of securities supervision department, are procedures carried out by SZSE to examine and verify application of market participants and make relevant decisions to allow market participants in questions to do something, or acquire certain qualification or power limit.
Further more, in order to facilitate market participants to handle relevant business, SZSE, formulated Guideline on Handling Proceeding of Examination, Verification and Registration, which covers the 16 proceedings of examination, verification and registration, and which is based on Guideline on Handling Proceeding of Examination, Verification and Registration of Public Company. Market participants, who handle the above proceedings, may enquire via Examination, Verification and Registration Proceeding column on the website of SZSE, prepare related documents according to the requirement, and submit them for handling.
Relevant principal from SZSE emphasized that as the self-discipline and management organization in the securities market, SZSE have always highly valued the rationalization and standardization of proceedings of examination, verification and registration, and have rationalized the proceeding twice, in 2004 and 2009 respectively. From now on, SZSE will update examination, verification and registration proceeding and its handling procedures in a timely manner, continue to improve the long-term mechanism of evaluation of rationalization of proceeding, constantly enhance the effectiveness, pertinence and transparency of self-discipline, supervision and services.
