Legislation roundup: Asset management of securities companies and social policy
July 05, 2013 | BY
clpstaff &clp articles &The CSRC has released Measures and Implementing Rules on the pooled asset management business of securities companies. The Ministry of Civil Affairs has issued two measures allowing foreign organisations to set up old people's homes
Capital markets
China Securities Regulatory Commission, Measures for Administration of the Client Asset Management Business of Securities Companies (Revised)
中国证券监督管理委员会证券公司客户资产管理业务管理办法 (修订)
See the digest for more details.
China Securities Regulatory Commission, Implementing Rules for the Pooled Asset Management Business of Securities Companies (Revised)
With the PRC Securities Investment Fund Law (Revised) coming into effect on June 1, pooled asset management plans of more than 200 persons would be regarded as public funds. Thus, the CSRC has revised the Measures and Implementing Rules to remove the provisions on pooled asset management plans of more than 200 persons of securities companies to restrict the pooled asset management plans regulated by the Measures and Implementing Rules to just private funds.
The revision also changes the targets of pooled asset management plans from “specific clients” to “qualified investors”. Qualified investors include:
(1) individuals or families with aggregate assets of at least Rmb1 million; and
(2) companies, enterprises or other organisations with net assets of at least Rmb10 million.
See digest for more details.
Further reading
Measures for Administration of the Client Asset Management Business of Securities Companies, Jan/Feb 2013
Social policy
Ministry of Civil Affairs, Measures for the Administration of Elderly Nursing Homes
Ministry of Civil Affairs, Measures for the Permission to Establish Elderly Nursing Homes
The Ministry of Civil Affairs has promulgated two measures stating that it is the authority for approving the application for permission to set up for-profit old people's homes. Foreign organisations and individuals may apply to set up wholly-owned or joint venture old people's homes. The establishment threshold of generally at least 30 beds has been reduced to at least 10 beds.
See the digest for more details.
Further reading
PRC Wholly Foreign-owned Enterprise Law (Revised), Dec 2000/Jan 2001
This premium content is reserved for
China Law & Practice Subscribers.
A Premium Subscription Provides:
- A database of over 3,000 essential documents including key PRC legislation translated into English
- A choice of newsletters to alert you to changes affecting your business including sector specific updates
- Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
Already a subscriber? Log In Now