The China Securities Regulatory Commission (CSRC) recently introduced amendments to the Issuance and Underwriting of Securities Administrative Measures, which were promulgated in 2006.
With effect from 1 November 2010, the new Measures are a set of important rules in the second phase of the reform programme for the new share issue regime launched by CSRC in June 2009. The new Measures contain the following major amendments.
More institutions to be involved in price consultations
In the 2006 Measures, the target institutions for price consultations in the A-share market were drawn from six types of company. These were securities investment fund management companies, securities companies, trust investment companies, financial companies, insurance institutional investors and qualified foreign institutional investors.