20 September 2018

CSRC tightens oversight on SNS info disclosures, paper says

The China Securities Regulatory Commission (CSRC) has tightened supervision on listed companies’ information disclosure on social networking service (SNS) platforms, the China Securities Journal reported Thursday, citing the regulator. Listed firms must comply with the securities law and regulations on any information released on social media platforms. Information has to go through designated regulatory channels before being published on other media. The regulator warned companies that they will be penalized if information published on SNS platforms is found to have caused stock price fluctuations arising from insider trading or other arbitrage activities, the report said.

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