CSRC regulates securities law practices of lawyers

0
491
CSRC regulates securities law practices of lawyers, 证监会规范律师证券法律业务
LinkedIn
Facebook
Twitter
Whatsapp
Telegram
Copy link

In 20 October 2010 the China Securities Regulatory Commission (CSRC) and the Ministry of Justice jointly published the Securities Law Business Practices of Law Firms Provisions (Trial Implementation) and the Legal Business Practices of Law Firms in Securities Investment Funds Rules (Trial Implementation). Both the Practice Provisions and the Fund Rules became effective on 1 January 2011 and form an integral part of the regime governing the securities-related business of law firms which the CSRC is building. Under the regime, the Law Firms Engaged in the Business of Securities Law Administrative Measures is the general framework; the Practice Provisions are the basic business rules focusing on regulating practice methods and procedures; and the Fund Rules and other business rules yet to be promulgated focus on regulating substantive issues. This regime also includes CSRC’s guidelines on the particulars and format of legal opinions.

The Practice Provisions

The Practice Provisions require law firms to establish and improve an internal mechanism to ensure quality and control risk, setting out specific quality control requirements in the following three areas.

Inspection rules

Lawyers must prepare an inspection plan and make a written record of the verification and certification of the matters on which they act for their clients. Permissible inspection methods include investigations, interviews, document reviews, field investigations, inquiries, external confirmations and other reasonable means.

You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

For group subscribers, please click here to access.
Interested in group subscription? Please contact us.

你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章,欢迎成为我们的订阅会员成为我们的订阅会员

已有集团订阅,可点击此处继续浏览。
如对集团订阅感兴趣,请联络我们


Business Law Digest is compiled with the assistance of Haiwen & Partners. The authors can be emailed at baochen@haiwen-law.com. Readers should not act on this information without seeking professional legal advice.

LinkedIn
Facebook
Twitter
Whatsapp
Telegram
Copy link