Legal newsletter (Issue 6, 2016)

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 First, finance

    ◆SFC: "Securities and Futures Industry Information System Audit Guide"

Recently, the SFC issued a "securities futures industry information system audit guide." Information system audit is based on national and industry information system-related norms and standards, the information system planning, construction, operation and maintenance and emergency activities such as self-inspection and evaluation to determine the operation of the system security, system construction compliance and system applications Performance, put forward rectification proposals, and continue to track the implementation of rectification. The audit guidelines are divided into seven parts: stock exchange, futures exchange, securities registration and settlement institutions, other core institutions, securities companies, fund management companies and futures companies. The audit rules are given for each audit item. Reference audit basis and audit procedures to regulate the core institutions and operating agencies of the auditors objective and accurate implementation of information systems audit.

http://www.csrc.gov.cn/pub/newsite/zjhxwfb/xwdd/201611/t20161111_305770.html

◆The SFC on the "futures company risk management indicators management approach" and supporting documents for public comments

Recently, the Securities and Futures Commission in April 2007 promulgated the "Futures Companies risk management indicators management pilot scheme" appears in the market does not meet the development and other issues were revised, the specific content is as follows: First, to raise the minimum net capital requirements to 30 million yuan, Strengthen the settlement risk prevention; the second is the liquidity, recyclability and the risk of further refinement of the proportion of asset adjustment to improve the scientific nature of net capital calculation; third is to adjust the asset management business risk capital preparation provision and accrual criteria, To enhance the comprehensive coverage of risk; Fourth, to encourage futures companies to supplement the multi-channel capital, allowing futures companies to subordinated debt in accordance with the provisions of the proportion of net capital; Fifth, to further strengthen the regulatory requirements of futures companies, increase supervision.

http://www.csrc.gov.cn/pub/newsite/zjhxwfb/xwdd/201610/t20161028_305124.html

◆Supported by the SFC, the first batch of "double-hit" corporate bonds issued successfully

As a pilot of the Innovation and Start-up Corporate Bonds (referred to as "double-hit" corporate bonds), Kunshan Longteng Optoelectronics Co., Ltd., Suzhou Degui Medical Technology Co., Ltd. non-public issued two single "double hit" corporate bonds issued recently Shanghai Stock Exchange. In order to support the financing of the small and medium-sized enterprises, it is necessary to strengthen the financing channels of small and medium-sized enterprises and effectively support the scientific and technological innovation. Significance.

http://www.csrc.gov.cn/pub/newsite/zjhxwfb/xwdd/201610/t20161028_305125.html  

 ◆The Securities and Futures Commission, the Ministry of Finance jointly issued the "Futures Investor Fund Management Measures" and supporting provisions

Recently, the Securities and Futures Commission, the Ministry of Finance jointly issued the revised "Futures Investor Protection Fund Management Measures" (hereinafter referred to as "Measures") and supporting provisions, simultaneously released the revised "on the futures exchange, futures companies to pay futures investor protection Fund provisions of the relevant provisions. " The revised content mainly has the following three aspects: First, delete the specific criteria for the protection of the size of the Fund, the total amount of the Fund will be sufficient to cover the market risk set to suspended payment of one of the circumstances; Second, the proportion of the payment of funds only In principle, through the joint release with the Ministry of Finance supporting the provisions of the way, a clear reduction in the futures exchange and futures companies to pay the proportion of the futures exchange rate of payment by 3% of the fee reduced to 2% The proportion of the futures company to pay the amount of agency transactions by the amount of five to ten million to ten to five million to ten; third is the payment of funds by the quarterly payment to adjust the annual payment. The measures shall come into force 30 days after the date of promulgation.

http://www.csrc.gov.cn/pub/newsite/zjhxwfb/xwdd/201611/t20161111_305771.html 

Second, a word news

◆Private Education Promotion Law" landing, the people to promote law enforcement will accelerate the process of asset securitization of private education industry, and promote the development of China's education industry.

◆Provincial High Court: January 1, 2017 Jianyang City, the jurisdiction of the litigation will be adjusted to the parties to submit the prosecution material or the prosecution to prosecute the time to determine the jurisdiction of the court, the time before the node by the Ziyang City Intermediate People's Court jurisdiction, later By the Chengdu Intermediate People's Court jurisdiction.

◆Supreme law: the establishment of a unified court case information query system to achieve the case through the same platform for all parties to the process of information objectives.

◆The Supreme People's Court promulgated the Provisions on Several Issues Concerning the Change of Civil Ｅxecution and Additional Issues of the Parties, and clarified the issues of adding additional statutory principles and applying for the change of apportionment.

◆The Supreme People 's Court promulgated the Provisions of the Supreme People' s Court on Several Issues Concerning the Case of Property Conformity, and made it clear that the application for preservation could be requested at the same time.

◆The SFC clearly classified investors "a glory, loss of a loss," as long as the loss, priority investors have to bear the loss, how to allocate the loss ratio, the regulators did not give a clear explanation.

Producer: Yang Yuan Jiang Guoyan

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