China Securities Regulatory Commission, Tentative Provisions for the Examination and Approval of the Scope of Business of Securities Companies

中国证券监督管理委员会证券公司业务范围审批暂行规定

December 18, 2008 | BY

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Securities companies allowed to apply for margin trading and short selling.

Clp Reference: 3700/08.10.30 Promulgated: 2008-10-30 Effective: 2008-12-01

Issues: October 30 2008
Effective: December 1 2008

Main Contents: The Provisions allow securities companies to engage in business not explicitly provided for in the Securities Law, the Regulations for the Oversight of Securities Companies, or rules or regulatory documents of the CSRC (Novel Business) subject to approval by the CSRC (Article 5). Such Novel Business includes margin trading and short sale of securities (Article 12). The Provisions specify the requirements and procedure for increasing the types of business it engages in.

Related Legislation: PRC Securities Law (Amended), Oct 27 2005, CLP 2006 No.1 p.31; and Regulations for the Oversight of Securities Companies, Apr 23 2008, CLP 2008 No.6 p.45

Repealed Legislation: Several Opinions on Further Strengthening the Oversight of Securities Companies, 1999

clp reference:3700/08.10.30prc reference:证监会公告[2008]42号promulgated:2008-10-30effective:2008-12-01

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