CSRC to Set Up New Inspection Committee for IPOS, Refinancing and M&As
Liao Shumin
DATE:  Nov 21 2017
/ SOURCE:  Yicai
CSRC to Set Up New Inspection Committee for IPOS, Refinancing and M&As CSRC to Set Up New Inspection Committee for IPOS, Refinancing and M&As

(Yicai Global) Nov. 21 -- The Party Committee at China Securities Regulatory Commission (CSRC) has decided to set up the Inspection Committee on Issuance, Mergers and Acquisitions and Reorganization to supervise initial public offerings, refinancing and M&As and conduct a full-cycle performance appraisal on the Issuance Examination Committee and its members.

Liu Shiyu, chairman of the insurance regulator, announced the news at the inauguration ceremony of the 17th Issuance Examination Committee, which the commission held recently. The Issuance Examination Committee is responsible for approving, rejecting or deferring IPO applications.

Liu advised that the new committee must take strict control over quality. Listed companies are the cornerstone of the capital market and the committee must resolutely implement regulatory concepts in accordance with the law to prevent ill-informed declarations by companies facing hardships, he added.

Work must be done to improve the supervision and restriction mechanism so the Issuance Examination Committee can ensure full coverage and zero tolerance, Liu continued.

Members of the new committee should understand the pressures involved in the CSRC Party Committee's anti-corruption campaign and have a clear mind in the war against corruption, said Wang Huiming, leader of the CSRC's discipline group under the Central Commission for Discipline Inspection.

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Keywords:   CSRC,IPOs,M&As