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In the morning of 8 June, 2017, Shenzhen Stock Exchange (‘SZSE’) and China Securities Regulatory Commission of Anhui Province (‘CSRC of Anhui Province’) jointly held the signing ceremony for Memorandum on Regulatory Cooperation (‘Memorandum’) in Shenzhen, the General Manager of SZSE Mr. Wang Jianjun and the Chief of CSRC of Anhui Province Mr. Ye Jinwei attended the ceremony and signed the Memorandum, meanwhile, both parties exchanged ideas extensively on implementing the Memorandum.
The signing of the Memorandum is not only a concrete measure for both parties to implement the spirit of National Securities and Futures Regulatory Conference and the idea of strict and overall regulation in accordance with laws, but also an important exploration in establishing new front-line regulation modes and strengthening regulatory cooperation for SZSE and its branch organizations, which will improve the efficiency of regulation on listed companies, securities companies and relevant market participants, and further promote the standardized development of regional capital market.
Firstly, advantages of both parties are given into full play. According to the principles of resource sharing, functional complementation and mutual support, it gives full play to the advantages of branch organizations in closing to local capital market and the advantages of SZSE in talents, data information and technology, so as to realize the unity of the authority of legal regulation and flexibility of self-discipline regulation.
Secondly, the scope of cooperation is expanded. The Memorandum covers the business lines of listed company regulation, institution regulation, fixed income product regulation, investor protection and cooperation of supervision, inspection and law enforcement, and also strengthens the information communication during the whole process of regulation.
Thirdly, communication and implementation are emphasized. The Memorandum establishes the following systems and measures: 1) perfection of the liaison system; 2) establishment of the negotiation mechanism on annual key cooperation matters; 3) setup of the assessment mechanism on operation effect of the Memorandum and dynamic adjustment to perfection for it.
In the next step, both parties will strengthen connection and coordination of business departments, continuously improve the coordination mechanism, and comprehensively implement the Memorandum via continuous optimization and improvement. SZSE will timely summarize the experience of regulatory cooperation with CSRC of Anhui Province and gradually promote the new modes of regulatory cooperation to other branch organizations.
