Legislation roundup: CSRC Guidelines, medical insurance and car insurance agencies
September 29, 2012 | BY
clpstaff &clp articles &The CSRC has issued Guidelines over information disclosures for companies offering securities, while the CIRC has produced a circular to support the professional operation of car insurance agencies
Legislation roundup: CSRC Guidelines, medical insurance and car insurance agencies
The CSRC has issued Guidelines over information disclosures for companies offering securities, while the CIRC has produced a circular to support the professional operation of automobile insurance agencies
Information disclosure
China Securities Regulatory Commission, Guidelines on the Contents and Formats for Information Disclosure by Companies that Offer Securities to the Public (No 2): Contents and Format of Annual Reports (Revised in 2012)
The revised Guidelines reduce the content required to be disclosed in an annual report of a listed company. Past information already disclosed in the prospectus, previous annual reports or ad hoc announcements can be left out. Companies are encouraged to voluntarily disclose their top five suppliers and the purchasing amounts.
Further reading
Insurance
National Development and Reform Commission, Ministry of Health, Ministry of Finance, Ministry of Human Resources and Social Security, Ministry of Civil Affairs and China Insurance Regulatory Commission, Guiding Opinions on the Launch of the Work on Critical Illness Insurance of Urban and Rural Residents
According to the Guiding Opinions, local governments will choose commercial insurance companies through bidding to provide critical illness cover for urban and rural residents. Eligible insurance companies must have been engaged in the health insurance business in China for at least five years, have a sound service network and can maintain separate books of account for the products offered for critical illness
See the digest for more details.
Further reading
China Insurance Regulatory Commission, Circular on Matters Relevant to Supporting the Professional Operation of the Insurance Agency Business of Automobile Enterprises
In order to solve the problem of car enterprises providing non-professional insurance agency services as a side business, car enterprises are encouraged to set up insurance agencies or brokerages or to cooperate with already established insurance agencies and brokerages to operate this kind of business.
Further reading
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