The post of today is the second part of the latest laws and regulations promulgated in last month in China.
5. The Implementation of the Registration and Management System of Insiders of Listed Companies
On 25th October, 2011, the China Securities Regulatory Commission issued the Regulations Concerning the Establishment of the Registration and Administration System of the Insiders of Listed Companies (hereinafter the Regulations), having been implemented on 25th November, 2011. According to the Regulations, if the initiator of the major matters rising insider information that are sensitive to the price of shares is a listed company, such listed company shall, according to the Regulations, fill the record of the insiders and do well with the confidential management of the inside information; however, if the initiator described above is an other party except for a listed company, such as a shareholder and actual controller of a listed company, its affiliate, etc., an acquirer, the relative party of a major asset reconstruction transaction, and other parties initiates the matters involving the listed company and influencing the price of the shares of the listed company, the parties specified shall separately do well with their registrations of insiders according to the Article 8 of the Regulations, moreover shall submit the record of insiders to the listed company when required, as well as support and cooperate the listed company do well with registration of insiders.