Notice of the Beijing Office of the China Securities Regulatory Commission on Cancelling the Relevant Work Arrangements for the Quality Evaluation of Sponsor Institutions' Practice of Continuous Supervision and Guidance of Listed Companies under the Jurisdiction of Beijing

· Document Number：No. 284 [2017] of the Beijing Office of the China Securities Regulatory Commission

· Area of Law： Securities

· Level of Authority： Local Regulatory Documents

· Date issued：10-17-2017

· Effective Date：10-17-2017

· Status： Effective

· Issuing Authority： Other Institutions of Beijing Municipality

Notice of the Beijing Office of the China Securities Regulatory Commission on Cancelling the Relevant Work Arrangements for the Quality Evaluation of Sponsor Institutions' Practice of Continuous Supervision and Guidance of Listed Companies under the Jurisdiction of Beijing
(No. 284 [2017] of the Beijing Office of the China Securities Regulatory Commission)
Listed companies and sponsor institutions under the jurisdiction of Beijing:
The China Securities Regulatory Commission (“CSRC”) has adjusted and optimized the mechanism for the division of labor and coordination in the regulation of securities companies' investment banking business, clearly providing that local CSRC offices are mainly responsible for the routine regulation of investment banking business, and conducting on-site and off-site inspections, and the CSRC is responsible for evaluating the practice quality of securities companies in the projects they undertake, and making an overall evaluation of the practice of securities companies in investment banking business. In view of the aforesaid circumstances, the Beijing Office of the CSRC has decided not to make an annual overall evaluation of the quality of sponsor institutions' practice of continuous supervision and guidance under the jurisdiction of Beijing any more, and, at the same time, repeal the relevant provisions of Article 33 [Continuous Supervision and Guidance Evaluation System] of the Guidelines of the Beijing Office of the China Securities Regulatory Commission for the Regulation of Sponsor Institutions' Continuous Supervision and Guidance (for Trial Implementation) (No. 48 [2013], Beijing Office, CSRC).
After the cancellation of the relevant work arrangements for the annual overall evaluation of the quality of continuous supervision and guidance practice, sponsor institutions shall continue to fulfill the obligation of continuous supervision and guidance, and effectively conduct the continuous supervision and guidance, have good faith, and perform due diligence. The Beijing Office of the CSRC will, in accordance with the requirements of the Measures for the Administration of the Sponsorship for the Issuance and Listing of Securities (Order No. 58, CSRC), the Measures for the Administration of Financial Advisory Services in the Mergers, Acquisitions and Restructurings of Listed Companies (Order No. 54, CSRC) and other regulatory provisions, make more efforts to crack down on violations of laws and regulations during continuous supervision and guidance, investigate and punish those failing to diligently or effectively perform the duties of supervision and guidance or having any other problems, in a timely manner, and strictly hold accountable the liable institutions and liable persons.

Beijing Office of the China Securities Regulatory Commission
October 17, 2017