Date
20 October 2017

CSRC scraps approvals for some securities firm deals, paper says

Securities firms will no longer need regulatory approval for three types of businesses after the China Securities Regulatory Commission follows through on commitments to streamline the process, the China Securities Journal reported Wednesday, citing a commission notice. Firms will not need the commission’s nod for subordinated debt, annual foreign exchange risks exposure quota held by securities firms with overseas futures business licenses as well as special investment, the paper said. An investment banker was quoted as saying that it’s not yet clear if asset securitization, a major special investment by securities firms, will need approval.

– Contact HKEJ at [email protected]

KZ/AC/SK

 

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