CCTV News: In order to thoroughly implement the spirit of the Central Financial Work Conference, further promote the improvement of the quality of listed companies, and strengthen the supervision of raised funds, the China Securities Regulatory Commission systematically sorted out the supervision work practices in recent years, conducted research and listened to opinions and suggestions from multiple parties, and drafted the "Regulations on the Supervision of Listed Companies for Raising Funds (Draft for Soliciting Opinions)" (hereinafter referred to as the "Rules") on the basis of the "Guidelines for Supervision of Listed Companies Supervision No. 2 - Supervision Requirements for the Management and Use of Raised Funds for Listed Companies". The "Rules" focus on improving the safety and standardization of funds raised by listed companies and further improving the efficiency of funds raised. We are now soliciting public opinions.
The Rules have 23 articles in total, emphasizing that the use of raised funds should be used exclusively and focused on the main business, clarifying the specific circumstances of the change in the purpose of raised funds and the process requirements for delayed implementation, and further standardizing the temporary cash management, supplement liquidity, and the use of over-summoned funds. In addition, the "Rules" implement the concept of strict supervision, clarify the accountability clauses, establish connection with superior laws such as the "Securities Law", "Securities Issuance and Listing Underwriting Business Management Measures", and "Securities Information Disclosure Management Measures", and promote the standardized management and use of raised funds by strengthening on-site and post-event supervision to promote the standardized management and use of raised funds by intermediary institutions.
Welcome valuable opinions from all sectors of society. The China Securities Regulatory Commission will carefully study the feedback from all parties and further modify and improve them and release and implement them according to procedures.
News link:
Notice of the China Securities Regulatory Commission on public soliciting opinions on the "Regulations on the Supervision of Fund Raising Listed Companies (Draft for Comments)"
