Tentative Provisions on Strengthening the Regulation of Unusual Share Transactions in Connection with Material Asset Reorganisation of Listed Companies

关于加强与上市公司重大资产重组相关股票异常交易监管的暂行规定

If, in the process of the CSRC's review of an M&A transaction, the listed company or the transaction counterparty that accounts for 20% or more of the transaction amount is found to have been involved in insider trading, the CSRC will terminate the review process.

(Promulgated by the China Securities Regulatory Commission on November 6 2012, and effective as of December 17 2012.)

(中国证券监督管理委员会于二零一二年十一月六日公布，自二零一二年十二月十七日起施行。)

CSRC Announcement [2012] No.33

证监会公告 [2012] 33号

Article 1: These Provisions have been formulated pursuant to the PRC Securities Law, the PRC Administrative Permission Law, the General Office of the State Council, Circular on Transmission of the China Securities Regulatory Commission and Other Departments, Opinion on Combating and Safeguarding against Insider Trading in the Capital Markets in Accordance with the Law, the Measures for the Administration of Information Disclosure by Listed Companies and the Measures for the Administration of Material Asset Reorganisations by Listed Companies in order to strengthen the regulation of unusual share transactions in connection with the material asset reorganisations of listed companies, prevent and crack down on insider trading, safeguard the order in the securities market and protect the lawful rights and interests of investors.

第一条 为加强与上市公司重大资产重组相关股票异常交易监管，防控和打击内幕交易，维护证券市场秩序，保护投资者合法权益，根据《中华人民共和国证券法》、《中华人民共和国行政许可法》、《国务院办公厅转发证监会等部门关于依法打击和防控资本市场内幕交易意见的通知》、《上市公司信息披露管理办法》、《上市公司重大资产重组管理办法》，制定本规定。

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