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In order to adapt to the changes of the market situation and ensure the transparency, fairness and justice of audit work for listing of securities, Shenzhen Stock Exchange (“SZSE”) recently revised and promulgated the Work Rules for Listing Committee of Shenzhen Stock Exchange (2016 Revision).
Related officer of SZSE said, the revised Work Rules for Listing Committee of Shenzhen Stock Exchange mainly has the four changes as follows:
Firstly, the scope of responsibility of Listing Committee is adjusted and perfected. The execution of the delisting system of listed companies is intensified, the quality and transparency of audit work for listing suspension is enhanced, and the matters regarding listing suspension of listed securities are included into the audit scope of Listing Committee in the revision.
Secondly, the scope of application for stock audit matters is enlarged. Constant innovation is made in the revision by adapting to market financing means, for example, the scope of stock audit matters is enlarged from common stock to preferred stock, and the listing and listing transfer of preferred stock is included into the stock audit scope.
Thirdly, differentiated audit procedures are implemented according to different situation of listing suspension. In the revision, the listing suspension of stocks hitting financial delisting indicators and market trading delisting indicators is applicable to special review procedures of Listing Committee; while the listing suspension of stocks hitting other delisting indicators, such as major illegal delisting indicators including fraudulent issuance and violation of laws in major information disclosure, is applicable to common review procedures of Listing Committee. The listing and listing transfer of preferred stock as well as listing suspension of convertible corporate bonds are applicable to special review procedures of Listing Committee.
Fourthly, the review section for corporate (enterprise) bonds by Listing Committee is cancelled. According to the Management Measures for Issuance and Trading of Corporate Bonds (January 2015), the review for listing, listing resumption and delisting of corporate (enterprise) bonds by Listing Committee is cancelled to simplify the review procedures for bond listing.
