中国金融业法规动态–证券期货业
China Financial Regulation Alert – Securities and Futures 第11期 —— 2011年7月至10月 Issue 11 —— July 2011 to October 2011
中国金融业法规动态系列包含中国银行业法规动态、中国保险业法规动态、中国证券期货业法规动态，涉及中国银行业、保险业、证券期货业、公募基金、私募股权基金、担保及信托业等相关领域最近发布的主要监管法规。本通讯摘自公开的信息，毕马威并未对所引用信息的准确性进行核实。 The China Financial Regulation Alert series for Banking, Insurance and Securities & Futures contain major laws and regulations recently issued in the PRC governing mainly the banking, insurance, securities & futures, mutual fund, private equity, guarantee and trust sectors. This publication is a summary of public information, the accuracy of which has not been verified by KPMG.
证券业 Securities · 中国证监会机构监管部发布《证券公司直接投资业务监管指引》
Department of Intermediary Supervision of CSRC issued Regulatory Guidelines for Securities Companies’ Direct Investment Business
该指引对证券公司设立直投子公司开展直投业务在设立、业务开展及监管等多方面提出了具体要求。
The guidelines specify regulatory requirements for securities companies regarding setting up direct investment subsidiaries and conducting related business. · 证监会发布《关于开展期货市场账户规范工作的决定》--证监会公告[2011]20号
CSRC issued its Decision on Regulating the Accounts of Futures Markets - CSRC Circular [2011] No. 20
该公告自2011年9月2日起施行，在休眠户处理、历史账户规范等方面提出了具体处理办法，并对规范工作提出了时间要求：第一阶段为从本公告发布之日至2011年10月31日，要求各相关单位进行系统升级，各期货公司同步开展自查规范工作；第二阶段从2011年11月1日至2012年5月31日，要求各单位通过升级后的系统完成期货市场账户规范工作；第三阶段要求冻结逾期未通过规范检查账户的开新仓权限）。
The circular is effective from 2 September 2011. It specifies the measures and timeframe for handling dormant and old accounts. In the first stage (circular announcement date - 31 October 2011), all parties concerned are required to upgrade the system, with futures firms simultaneously beginning their self-inspection. In the second stage (1 November 2011 - 31 May 2012), all parties concerned should complete dealing with irregular futures accounts using the upgraded system. In the third stage, accounts that have not met the requirements during inspections are forbidden from taking new positions. · 证监会关于修改《证券公司融资融券业务试点管理办法》的决定--证监会公告[2011]31号
Circular from CSRC on Decisions to Revise Measures for Managing Pilot Securities Margin Trading Business of Securities Companies - CSRC Circular [2011] No. 31
该决定对原2006年6月30日发布的《证券公司融资融券业务试点管理办法》进行了相应修改，并重新公布。
The circular revises the Measures for Managing Pilot Securities Margin Trading Business of Securities Companies issued on 30 June 2006 and announces the new measures. · 证监会关于修改《证券公司融资融券业务试点内部控制指引》的决定--证监会公告[2011]32号
Circular from CSRC on Decisions to Revise Internal Control Guidelines for Pilot Securities Margin Trading Business of Securities Companies - CSRC Circular [2011] No. 32
该决定对原2006年6月30日发布的《证券公司融资融券业务试点内部控制指引》进行了相应修改，并重新公布。
The circular revises the Internal Control Guidelines for Pilot Securities Margin Trading Business of Securities Companies issued on 30 June 2006 and announces the new guidelines. · 证监会发布《转融通业务监督管理试行办法》—证监会令[2011]75号
Circular from CSRC on Issuing Interim Measures for Supervising and Managing Refinancing Business - CSRC Order [2011] No. 75
为了健全融资融券交易机制，拓宽证券公司融资融券业务资金和证券来源，规范转融通业务及相关活动，防范转融通业务风险，对从事转融通业务的证券金融公司的资质、转融通业务的业务规则、资金和证券的来源、权益处理以及监督管理进行了明确。
In order to improve the securities margin trading mechanism, broaden sources of funds and securities for margin trading, regulate refinancing business and related activities, and prevent refinancing risk, the circular specifies the requirements for securities companies engaging in refinancing business, rules in conducting refinancing business, sources of funds and securities, handling of rights and interests, as well as supervision and management of such business.
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公募基金业 Mutual fund · 证监会公布《基金行业人员离任审计及审查报告内容准则》—证监会公告[2011]16号
CSRC issued the Standards for Content of Resignation Audit and Assessment Report of the Fund Industry - CSRC Circular [2011] No. 16
该公告对基金行业人员离任审计及审查报告的内容、格式、报送证监会期限做出了规定，并明确相关离任报告不合规的将可能受到的处罚。
The circular specifies the content, format and submission deadlines for resignation audit and assessment reports of the fund industry, as well as penalties for non-compliance. · 证监会公布《证券投资基金管理公司公平交易制度指导意见》（2011年修订）--证监会公告[2011]18号
CSRC issued Guidelines for the Fair Trading System of Securities Investment Fund Management Companies (Revised Edition 2011) - CSRC Circular [2011] No. 18
该意见进一步完善了证券投资基金管理公司的公平交易制度，对投资决策内部控制、交易执行内部控制、行为监控和分析评估、报告、信息披露和外部监督等内容进行了进一步规定和说明。
The guidelines further refines the fair trade system of securities investment fund management to regulate the internal controls over investment decision-making and trading execution, as well as behavioral monitoring, analyses and assessment, reporting, information disclosure and external monitoring. · 证监会发布《基金管理公司单一客户资产管理合同内容与格式准则》--证监会公告[2011]21号
CSRC issued the Standards for the Content and Format of Asset Management Contracts of Fund Management Companies for a Single Client - CSRC Circular [2011] No. 21
该公告对基金管理公司单一客户资产管理合同的格式、内容做出了明确规定，自 2011年10月1日起施行。
The circular specifies the format and content of asset management contracts of fund management companies for a single client. It came into effect on 1 October 2011. · 证监会发布《基金管理公司特定多个客户资产管理合同内容与格式准则》（2011年修订）--证监会公告[2011]22号
CSRC issued the Standards for the Content and Format of Asset Management Contracts of Fund Management Companies for Multiple Specific Clients (2011 revised edition) - CSRC Circular [2011] No. 22
该公告对基金管理公司特定多个客户资产管理合同的格式、内容做出了明确规定，自 2011年10月1日起施行，原《基金管理公司特定多个客户资产管理合同内容与格式准则》（证监会公告〔2009〕20号）同时废止。
The circular specifies the format and content of asset management contracts of fund management companies for multiple specific clients. The Standards for the Content and Format of Asset Management Contracts of Fund Management Companies for Multiple Specific Clients (CSRC Circular [2009] No. 20) were abolished when the revised requirements came into effect on 1 October 2011. · 证监会公布《证券投资基金销售结算资金管理暂行规定》--证监会公告[2011]26号
CSRC issues Interim Provisions for Management of Sales Settlement Funds for Securities Investment Funds - CSRC Circular [2011] No. 26
为了保护证券投资基金投资人的合法权益，保障基金销售结算资金的安全，该规定对基金销售机构、基金销售支付结算机构、基金注册登记机构及监督机构的职责以及销售账户的运作进行了明确和规范。
To protect the lawful interests of investors in securities investment funds and security of settlement capital in the sales of funds, the circular specifies the roles and responsibilities of fund-selling agencies, payment and settlement agencies, registration authorities and regulators, as well as the operation of sales accounts. · 证监会发布关于实施〈基金管理公司特定客户资产管理业务试点办法〉有关问题的规定--证监会公告[2011]27号
CSRC issued Rules on Issues related to the Implementation of the Pilot Measures for Asset Management Business of Fund Management Companies for Specific Clients - CSRC Circular [2011] No. 27
该规定对于基金管理公司在申请参与特定客户资产管理业务时需向中国证监会提交的材料内容、针对特定客户资产管理业务建立的管理制度和内控制度等进行了明确。
The rules specify the information that fund management companies should submit to CSRC when applying for engagement in asset management business for specific clients, as well as the management systems and internal controls for such business. · 证监会发布关于实施〈证券投资基金销售管理办法〉的规定--证监会公告[2011]28号
CSRC issued Rules on the Implementation of the Administrative Measures for the Sales of Securities Investment Funds - CSRC Circular [2011] No. 28
该规定明确《证券投资基金销售管理办法》自2011年10月1日起施行。各基金管理公司、基金销售机构和基金销售相关机构应当严格按照《证券投资基金法》、《证券投资基金销售管理办法》等有关规定开展基金销售活动。
The Administrative Measures for the Sales of Securities Investment Funds came into effect on 1 October 2011. All fund management companies, fund-selling agencies and related agencies should strictly adhere to the requirements of the PRC Securities Investment Fund Law and the Sales Management Measures when selling funds. · 证监会发布《基金管理公司特定客户资产管理业务试点办法》--中国证券监督管理委员会令[2011]74号
CSRC issued the Pilot Measures for Asset Management Business of Fund Management Companies for Specific Clients - CSRC Order [2011] No. 74
该办法对基金管理公司从事特定资产管理业务在资质、投资说明书内容、客户资料管理、开户验资、基金投资权重限制、管理费及托管费上限及相关禁止行为等方面做出了明确规定。
The measures specify qualification requirements, the content of investment prospectus, management of client information, capital verification and account opening, restrictions on investment weightings for funds, ceiling of management fees and custody fees, and prohibited actions for fund management companies engaging in specific asset management business.
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私募基金业 Private equity fund · 国家发展改革委关于印发鼓励和引导民营企业发展战略性新兴产业的实施意见的通知--发改高技[2011]1592号
Circular from NDRC on Issuing the Implementation Opinions on Encouraging and Guiding Private Enterprises to Develop Strategic and Emerging Industries - Fa Gai Gao Ji [2011] No. 1592
该通知对民营企业的扶持和鼓励政策、民间资本的准入条件、以及如何保障战略性新兴产业发展等进行了说明。
The circular expounds the supportive policies and incentives for private enterprises, entry requirements for private capital, and ways to protect the development of strategic and emerging industries. · 财政部国家发展改革委关于印发《新兴产业创投计划参股创业投资基金管理暂行办法》的通知--财建[2011]668号
Circular from MOF and NDRC on Issuing the Interim Measures for Managing Participation of Venture Capital Schemes of Emerging Industries in Venture Capital Funds － Cai Jian [2011] No. 668
该办法就新兴产业创投计划参股创业投资基金在投资领域和方向、管理要求、申请资质条件、政府相关激励机制、受托管理机构的申请条件及职责申报审批程序等方面做出了说明和规定。
The measures specifies the investment areas and direction, management requirements and application conditions for venture capital schemes of emerging industries to invest in venture capital funds; government incentive mechanism; application conditions and responsibilities of entrusted institutions, and approval procedures. · 中国人民银行发布外商直接投资人民币结算业务管理办法--中国人民银行公告[2011]23号
PBOC issues the Measures for Managing Direct Foreign Investment in RMB Settlement Business – PBOC Circular [2011] No. 23
为进一步扩大人民币在跨境贸易和投资中的使用，规范银行和境外投资者办理外商直接投资人民币结算业务，中国人民银行制定了《外商直接投资人民币结算业务管理办法》。
The PBOC formulates the Measures for Managing Direct Foreign Investment in RMB Settlement Business in order to extend the use of RMB in cross-border trade and investment, as well as regulate banks and overseas investors to conduct foreign direct investment in RMB settlement business. · 商务部关于跨境人民币直接投资有关问题的通知—商资函[2011]第889号
Circular on Cross-border RMB Direct Investment issued by Ministry of Commence – Shang Zi Han [2011] No. 889
该通知规定，境外投资者（含港澳台投资者）可以合法获得的境外人民币依法开展直接投资活动。跨境人民币直接投资及所投资外商投资企业的再投资均应符合现行外商投资管理体制、外商投资法律法规及有关规定的要求，遵守国家外商投资产业政策、外资并购安全审查、反垄断审查的有关规定。同时，该通知还明确了跨境人民币直接投资的审批管理程序。
The circular specifies that overseas investors (including investors from Hong Kong, Macau and Taiwan) can make direct investment with RMB funds they obtained legally overseas. Cross-border RMB direct investment and reinvestment by such foreign enterprises should conform to current administrative measures for foreign investment, regulations and laws on foreign investment, and abide by national industrial policies on foreign investment, as well as regulations on security and anti-monopoly reviews on mergers and acquisitions by foreign investors. In addition, the circular specifies approval procedures for cross-border RMB direct investment.
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信息来源：中国国务院、中国财政部、中国人民银行、国家工商行政管理总局、中国证监会、国家税务总局、中国证券业协会、中国期货业协会、中国金融期货交易所、上海证券交易所、深圳证券交易所等互联网网站。 Source: China State Council, MOF, PBOC, SAIC, CSRC, SAT, China Securities Association, China Futures Association, China Financial Futures Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange and other regulators’ websites. 交流与反馈： 如阁下希望进一步交流您的见解和建议，请联系： Feedback: Please contact the following individuals to discuss your views/suggestions: 北京 Beijing 陈少东Thomas Chan (+86 10 8508 7014 或 thomas.chan@kpmg.com)
程海良David Cheng (+86 10 8508 7916 或 david.cheng@kpmg.com)
上海 Shanghai 彭成初Eric Pang (+86 21 2212 2480 或 eric.pang@kpmg.com)
王国蓓Abby Wang (+86 21 2212 2428 或 abby.wang@kpmg.com)
广州及深圳 Guangzhou & Shenzhen 李嘉林 Ivan Li (+86 755 2547 1218 或 ivan.li@kpmg.com)
蔡正轩 Larry Choi (+86 755 2547 3414 或 larry.choi@kpmg.com)
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