Legislation roundup: asset management businesses, workplace safety and online data protection
August 02, 2013 | BY
clpstaff &clp articles &The Securities Association of China has produced a circular on asset management businesses while provisions have been released covering work safety at food factories and protection of personal information online
Capital markets
Securities Association of China, Circular on Matters Relevant to the Regulation of the Joint Engagement in the Targeted Asset Management Business by Securities Companies and Banks
When appointed by a bank to manage the assets of individual clients, a securities firm may not have its branches or business offices (with the exception of asset management branches) independently engage in targeted asset management business. The securities firm is not allowed to engage in the capital pool business or invest the entrusted funds in high pollution or high energy consumption industries.
Further reading
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Work safety
State Administration of Work Safety, Provisions for the Regulation of the Work Safety of Food Production Enterprises (Draft for Comments)
The Draft requires food processing/production enterprises with more than 300 food processing/production employees to set up a department for work safety management with full-time work safety managing personnel. Food processing/production enterprises with 300 or fewer food processing/production employees are required to employ full-time or part-time work safety managing personnel or appoint professionals to manage work safety.
See the digest for more details.
Further reading
PRC Employment Contract Law (Revised), Mar/Apr 2013
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Communications
Ministry of Industry and Information Technology, Provisions on the Protection of Personal Information of Telecommunications and Internet Users
Without the user's approval, telecommunications business operators and internet information service providers are not allowed to collect or use the personal information of their users. They are also not allowed to collect the personal information of users other than that which is necessary for the provision of services or use the personal information in purposes other than provision of services.
See the digest for more details.
Further reading
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