In order to improve the openness and transparency of the regulation on information disclosure of listed companies, the Shanghai Stock Exchange (SSE) sorts out the regulatory documents on information disclosure of listed companies according to two categories of Business Rules for Regulation on Information Disclosure and Business Guides for Regulation on Information Disclosure. Besides, it formulates, amends or abolishes some normative documents in line with the practical demand. It hereby notifies relevant information and issues.
I. Sorting Out Business Rules for Regulation on Information Disclosure
The business rules for regulation on information disclosure is in a relatively stable state, mainly involve the provisions on the requirements for regulation on information disclosure as well as the rights and obligations of all parties related to information disclosure, including the rules for information disclosure, election and appointment of directors, management on secretaries to the directorate, filing for independent directors, trainings and other aspects of work in listed companies.
After sorting out, a total of 29 business rules (see Attachment I for details of the catalogue) for regulation on information disclosure are left valid; 5 business rules (see Attachment II for details of the catalogue) including the "Letter on Submitting Sponsor Letter for Non-public Shares Issuance as Required" are abolished from the day when this notice is published; a total of 28 business rules (see Attachment III for details of the catalogue) have been abolished.
II. Sorting Out Business Guides for Regulation on Information Disclosure
The business guides for regulation on information disclosure are to further define or explain the business procedures or operational instructions for relevant regulatory requirements for information disclosure stipulated in the laws and regulations as well as the SSE's business rules. In accordance with the work demand, the business guides are classified into three categories, namely work memos for routine information disclosure which are mainly applicable to application forms for announcements, guidelines for the format of announcements and other daily business, work memos for special information disclosure like memos for assets reorganization, periodical reports and other special issues, and notices for information disclosure which are mainly applicable to temporary affairs or implementation of relevant requirements, such as data statistics and filling in and submitting information.
After sorting out, a total of 49 business guides (see Attachment IV for details of the catalogue) for regulation on information disclosure are left valid; 40 business guides (see Attachment V for details of the catalogue) including the "Notice of Unifying Statements by the Board of Directors and the Board of Supervisors in Temporary Announcements of Listed Companies" are abolished from the day when this notice is published; a total of 61 business guides (see Attachment VI for details of the catalogue) have been abolished.
III. Releasing Regulatory Documents on Information Disclosure of Listed Companies
The SSE releases the catalogues of the changed regulatory documents on information disclosure of listed companies in the media designated by the China Securities Regulatory Commission for information disclosure and its own website (www.sse.com.cn). Moreover, it publishes the full texts of the regulatory documents on information disclosure of listed companies in the SSE Business Rules, the SSE Business Guides and Procedures and other sub-columns under the column of Legal Rules on its website. All this is for the convenience of investors, listed companies and other market participants for search and use.
IV. Relevant Requirements
Listed companies are obligatory to have a deep understanding of the changed regulatory documents on information disclosure of listed companies, pay attention to some documents formulated, amended or abolished this time, and make earnest efforts on information disclosure. In addition, listed companies ought to observe the provisions related to fulfillment of the obligation of information disclosure in some other existing effective business rules and normative documents of the SSE apart from the regulatory documents listed in this notice.
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Shanghai Stock Exchange: Notice Of Sorting Out And Releasing Regulatory Documents On Information Disclosure Of Listed Companies
Date 07/08/2012