China Securities Regulatory Commission

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China Securities Regulatory Commission (CSRC)
中国证券监督管理委员会
China Securities Regulatory Commission logo.png
Agency overview
Formed1992
JurisdictionPeople's Republic of China
HeadquartersBeijing
Agency executive
Parent agencyState Council
WebsiteCSRC.gov.cn
China Securities Regulatory Commission
Simplified Chinese中国证券监督管理委员会
Traditional Chinese中國証券監督管理委員會
Alternative Chinese name
Simplified Chinese中国证监会
Traditional Chinese中國証監會

The China Securities Regulatory Commission (CSRC) is a government ministry of the State Council of the People's Republic of China (PRC).[1] It is the main regulator of the securities industry in China.

Function[edit]

China's first Securities Law was passed December 1998, and became effective July 1, 1999. It is the nation's first comprehensive securities legislation, and grants CSRC "authority to implement a centralized and unified regulation of the nationwide securities market in order to ensure their lawful operation".[2] The CSRC oversees China's nationwide centralized securities supervisory system, with the power to regulate and supervise securities issuers, as well as to investigate, and impose penalties for "illegal activities related to securities and futures".[3] The CSRC is empowered to issue opinions or "Guideline Opinions", which are not legally binding, as guidelines for publicly-traded corporations.[3] Its functions are similar to that of the Securities and Exchange Commission in the United States.

Its responsibilities include:

  • Formulating policies, laws and regulations concerning markets in securities and futures contracts
  • Overseeing issuing, trading, custody and settlement of equity shares, bonds, and investment funds
  • Supervising listing, trading and settlement of futures contracts; futures exchanges; and securities and futures firms

Indicative of the role of the CSRC, China's highest court, the Supreme People's Court–at least as of 2004–has declined to handle securities-related litigation directly, instead deferring such judgments to the CSRC.[4]

The headquarters for the China Securities Regulatory Commission is located at Focus Place 19, Jin Rong Street, West District Beijing.[citation needed]

Organizational structure[edit]

  • General Office
  • Department of Public Offering Supervision
  • Department of Market Supervision
  • Department of Intermediary Supervision
  • Department of Listed Company Supervision
  • Department of Investment Fund Supervision
  • Department of Futures Supervision
  • Enforcement Bureau I
  • Enforcement Bureau II
  • Department of Legal Affairs
  • Department of Accounting
  • Department of International Cooperation
  • Department of Personnel & Education
  • Publicity Office of the CPC CSRC Committee
  • Compliances Office
  • CPC CSRC Committee
  • Research Center
  • Office of Branches Coordinating Committee
  • Information Center
  • Headquarter Service Center

See also[edit]

References[edit]

  1. ^ Huang, C.W. (Winter 2008). "Company Law and the Independent Director System in Contemporary China". Hastings International and Comparative Law Review. 31. Retrieved 14 January 2019., p. 411.
  2. ^ Friedman, William I. (2002). "One Country, Two Systems: The Inherent Conflict Between China's Communist Politics and Capitalist Securities Market". Brook. J. Int'l L. 27: 484–85. Retrieved 14 January 2019.
  3. ^ a b Huang, C.W. (Winter 2008). "Company Law and the Independent Director System in Contemporary China". Hastings International and Comparative Law Review. 31. Retrieved 14 January 2019., note 1.
  4. ^ Yin, Dina J. (2004). "Investor Regulations: An American Answer to a Chinese Problem". Rutgers L. Rev. 57: 421. Retrieved 14 January 2019. pg. 421.

External links[edit]