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On August 19, the Securities Association of China and the Shenzhen Stock Exchange made the joint statement, requiring that securities companies should reasonably arrange, orderly guide the investors with the intention to participate in the New Market in compliance with the appropriateness requirements, to open trading account as early as possible, while continuously accomplishing the investor education and risk reminder.
The Statement titled “Notice on Further Pushing Forward New Market Investor Appropriateness Management”, stated that presently the preparation for the New Market is expedited, with the share offering of the first New Market enterprises and their listing coming up, securities companies should specifically draw up the work goals, step up the work pace, seriously analyze the quantity, structure and distribution in relation to their respective clients; securities companies also should reasonably arrange, orderly guide the investors with the intention to participate in the New Market in compliance with the appropriateness requirements, to open trading account as early as possible; at the same time, especially for important regions and important business offices, securities companies should make up special-purpose implementation plan and put more efforts to carry forward work in order to avoid the risk that the jam occurs in the concentrated handling in respect of the signing of “Risk Disclosure” at some important times such as IPO on the New Market, the listing trading.
The Notice also requires that securities companies should seize the time to adjust their own technological system in accordance with the “Technological Preparation Guidelines of the Shenzhen Stock Exchange for New Market Members” and finish the adjustment, testing of the New-Market-related technological system and get the system online before October 9.
Meanwhile, necessary measures shall be taken to make sure that the trading account of New Market investors can be opened within the prescribed time limit after the conclusion of the “Risk Disclosure” and prevent those investors failing to go through the formality for the trading account from engaging in the subscription or trading of the New Market stocks. The Shenzhen Stock Exchange will take the overall net test two times, respectively on September 19 and on October 10 and arrange the on-the-spot check-up on the New Market members’ preparation for the relevant technological system.
