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Guangxi Branch
Guangxi
22-11-2008

Responsibilities of Guangxi Securities Regulatory Bureau

As a regional agency dispatched by the China Securities Regulatory Commission (CSRC), the Guangxi Regulatory Bureau of the CSRC has established four divisions including the General Office, the Division of Listed Companies Supervision, the Division of Intermediary Supervision and the Division of Enforcement. Under the CSRC authorization, it regulates the securities and futures business activities of listed companies, securities and futures companies, securities and futures investment advisers, as well as such securities and futures intermediaries as law firms, accounting firms and asset appraisal institutions, within its jurisdiction. Apart from punishing violation on laws and regulations, it supervises and gives business guidance to self-regulation organizations of the securities and futures industry within its jurisdiction. The responsibilities of all the divisions are detailed as follows:

 

(I) General Office / Party Affairs Office

1. It assists the senior officials in making decisions. Specifically, the Office is responsible for assisting the Bureau’s senior officials to understand and study relevant guidelines and policies of the Party and the country, organizing and participating in the investigation and research, disclosing information and providing reasonable suggestions. Besides, it also works out the Bureau’s annual plans for securities and futures supervision, Party affairs and discipline inspection as well as goal responsibility system.

 

2. It traces and gives feedback as well as makes supervision over the decisions’ implementation. Particularly, by learning the implementation of those decisions, it provides timely feedback, coordinates, and settles the problems cropping up during the decision-making implementation period, to ensure the fulfillment of significant decisions.

 

3. It takes the helm of internal and external coordination. In particular, the Office assigns tasks to specific divisions of the Bureau for the accomplishment of their work by communication and coordination. Meanwhile, it establishes the network of external communication through the communication and cooperation with the relevant CSRC departments and departments to which the Bureau’s divisions are subject, local governments and their corresponding departments as well as collaborative units for financial supervision.

 

4. It is responsible for drafting the Bureau’s significant documents, collecting, compiling, analyzing and publicizing the information of the securities and futures market within its jurisdiction and making coordination efforts in organizing all the divisions to work out periodical reports on work performance, events, statistics and statistical analysis.

 

5. It carries out document processing of the Bureau and settles the problems, which pop up during document processing, by the way of coordination. Meanwhile, the Office amends and reviews the Bureau’s significant documents which are to be submitted to the Bureau’s senior officials for approval.

 

6. It takes on financial and budget management of the Bureau.

 

7. It is in charge of documents and archives management, seal management, confidentiality work, construction and management of information system as well as acceptance of application for administrative license of the Bureau.

 

8. It organizes the Bureau Chief’s working meetings, collects issues submitted by all divisions for the discussion at the Bureau Chief’s working meeting and submits the issues for examination and approval of the Bureau Chief.

 

9. It makes arrangements for the official activities of the Bureau’s senior officials, including participating in foreign affairs activities, attending conferences and meeting with visitors. Besides, the Office handles all the affairs related to the Bureau Chief’s service.

 

10. It copes with all the affairs related to the Bureau’s publicity and interviews with news media.

 

11. It receives letters and visits involving securities and futures businesses and prevents mass appeals to the higher authority.

 

12. It takes charge of the Bureau’s official businesses administration and stipulates internal management systems to ensure the smooth running of the Bureau.

 

13. It is authorized by the Bureau’s senior official to examine or approve the issues including purchase for goods, vehicle maintenance costs, financial loan and expenditures and expenses reimbursement, and sign contracts and agreements on meetings, purchase and lease of office buildings.

 

14. It presides over the routine work of the Bureau Party Committee and the Discipline Inspection Committee.

 

15. It assists the Party Committee of the Bureau in strengthening the construction of leading groups.

 

16. It deals with the affairs of the Bureau’s human resources, labor and management, foreign affairs and family planning.

 

17. It organizes annual evaluation and goal responsibility system evaluation for the Bureau’s officials of and under divisional level, and makes suggestions to issues concerning rewards and punishment, appointment and dismissal, personnel redeployment as well as training for the aforesaid officials.

 

18. It instructs, arranges and supervises the trainings for officials.

 

19. It takes charge of the Bureau’s affairs related to the Party construction and the recruitment of new Party members.

 

20. It assumes the responsibilities of taking notes for the Bureau Party Committee’s meetings, drafting meetings summaries, urging the implementation of the decisions made at the meetings, as well as organizing and coordinating all the affairs concerned.

 

21. Apart from accepting the appeals made by the Party members and other staff members of the Bureau, it investigates and handles the complaints and accusations as required by the Bureau Party Committee.

 

22. It assists the Bureau Party Committee in conducting ideological and political education for the Bureau’s cadres and staff.

 

23. It promotes the publicity of Party affairs and government affairs.

 

(II) Division of Listed Companies Supervision

Responsibilities of Supervision over the To-be-listed Companies:

1. Giving reorganization guidance to the to-be-listed companies within its jurisdiction;

 

2. Reporting to the CSRC in time if significant problems and risks are discovered in the application for IPO of the to-be-listed company and the application for refinancing of the listed company within its jurisdiction;

 

3. Issuing examination opinions upon its investigation in the suspected violation on regulations made by the to-be-listed company and its intermediary within its jurisdiction during the stock’s issuance examination and underwriting; and

 

4. Supervising the intermediary’s performance of continuous obligations and the listed company’s fulfillment of cooperation obligations after the company’s listing within its jurisdiction, in accordance with the regulations of securities public offering;

 

Responsibilities of Supervision over the Listed Companies:

1. Conducting on-the-spot inspection on the listed companies within its jurisdiction;

 

2. post-reviewing the documents disclosed by the listed companies within its jurisdiction including periodical and interim reports;

 

3. Supervising the regulation status of listed company’s governance structure with its jurisdiction;

 

4. Reporting the examination opinions in time, after making reviews of the application documents related to the listed company’s M&A and restructuring, including significant assets reorganization, merger and acquisition, purchase and change in shares held by shareholders of the listed company; through on-the-spot inspection and regular visits, making settlement suggestions on the basis of learning the situation and the problems of the listed company’s significant assets reorganization, merger and acquisition, purchase and change in shares held by shareholders as well as equities repo; besides, continuing its supervision over the normative operation after the M & A and restructuring of the listed companies in particular who have already been merged and acquired and restructured, and over the intermediary’s guidance to the companies;

 

5. Establishing the risk prevention system for the listed company’s delisting; and

 

6. Supervising the financing of the listed companies within its jurisdiction;

 

Responsibilities of Supervision over Auditing and Assessment Businesses:

1. Supervising accounting firms, asset appraisal institutions and their practitioners that engage in securities and futures businesses within its jurisdiction;

 

2. Supervising and inspecting the professional ethics, independence and competence of the accounting firms, asset appraisal institutions and relevant practitioners involved in the securities and futures businesses, making timely management or reports to the CSRC in accordance with relevant regulations;

 

3. Making regular reports to the CSRC on the supervision over the accounting firms, asset appraisal institutions and their practitioners engaged in securities and futures businesses within its jurisdiction;

 

4. Verifying both the suspicious points in the qualification of the accounting firms and asset appraisal institutions with securities practicing qualification and the suspicious points in the application materials submitted by accounting firms and asset appraisal institutions for the aforesaid qualification;

 

5. Urging accounting firms and asset appraisal institutions with qualification for securities and futures businesses to fill in their information in the CSRC regulatory database in an authentic, complete and prompt manner; and

 

6. Collecting other information related to accounting firms and asset appraisal institutions within its jurisdiction, including their announcements and regulatory information of relevant departments’ supervision over accounting firms, asset appraisal institutions and relevant practitioners, and making periodical reports to the Department of Accounting

 

(III) Division of Intermediary Supervision

Responsibilities of Supervision over Securities Trading Institutions:

1. Carrying out routine supervision over business activities of the securities companies and their branches, securities business departments and securities service departments, and fulfilling its supervisory duties by on-the-spot and off-site inspection according to law;

 

2. Supervising the securities company’s governance structure, as well as the establishment, improvement and operation of internal control system of the securities companies and their branches;

 

3. Conducting routine supervision over the clients’ trading settlement capital of all the securities institutions within its jurisdiction with the assistance of the supervisory system of the clients’ trading settlement capital;

 

4. Monitoring and disposing the securities institution’s risks and reporting the significant risks to the CSRC in time;

 

5. Investigating and handling the complaints to the securities institutions within its jurisdiction;

 

6. Reporting and recording the commission charging standard of the securities business institutions within its jurisdiction to safeguard the normal competition order on the securities brokerage market;

 

7. Collaborating with relevant local departments closely to crack down on illegal establishment of securities trading branches within its jurisdiction;

 

8. Examining the qualification of general manager and vice general manager of the securities companies’ branches within its jurisdiction, and performing routine supervision;

 

9. Putting records for the securities company’s branch’s relocation in the same city, and reviewing the securities business department’s relocation to other cities (including relocations within the Bureau’s jurisdiction and relocations across the jurisdiction);

 

10. Issuing written opinions within the prescribed time limit to the following cases: the examination of securities companies’ applications for establishment of new service departments and opening of branches, the establishment of foreign securities institutions’ representative offices in China, the change of chief representatives and general representatives of the foreign securities institutions’ representative offices in China, securities companies’ applications for the qualification of the stock’s lead underwriter, the equity change of securities companies, the transfer and swap of securities companies’ business departments. Besides issuing written opinion within the prescribed time limit on the qualification of senior management officers of securities companies, it should interview the to-be-engaged senior management officers of the securities companies and submit the interview evaluations to the CSRC;

 

11. Implementing the annual inspection on the qualification of the securities companies’ senior management as well as the general manager and vice general manager of the branches within its jurisdiction; and

 

12. Supervising the securities business institutions whose registration domiciles are within the jurisdiction.

 

Supervision over Securities Investment Consulting Institutions

1. Carrying out routine inspection on business activities of the securities investment consulting institutions within its jurisdiction, including on-the-spot and off-site inspection;

 

2. Carrying out preliminary examination on the applications for the qualification for securities investment consulting business made by companies within its jurisdiction;

 

3. Implementing the annual inspection on the securities investment consulting institutions within its jurisdiction; and

 

4. Investigating and handling the complaints to the securities investment consulting institutions within its jurisdiction, and also examining any suspected violation of laws and regulations made by the securities investment consulting institutions within its jurisdiction.

 

Responsibilities of Supervision over Funds

1. Carrying out on-the-spot inspection of application for the opening of fund management companies and the establishment of branches;

 

2. Making the self-regulation recording regarding the organizations founded by fund management companies within its jurisdiction;

 

3. Supervising the information disclosure of fund management companies within its jurisdiction during the duration of fund management;

 

4. Taking charge of the data statistics regarding the funds within its jurisdiction;

 

5. Handling the complains to the funds within its jurisdiction, and solving the disputes over funds;

 

6. Assisting the CSRC in the supervision over the fund investment of fund management companies within its jurisdiction;

 

7. Assisting the CSRC in the supervision over the fund raising and fund unit trading within its jurisdiction;

 

8. Assisting the CSRC in the supervision over the internal control and corporate governance of fund management companies;

 

9. Assisting the CSRC in the supervision over the intermediaries within its jurisdiction whose businesses cover the fund custody, registration and evaluation;

 

10. Assisting the CSRC in the supervision over the practice of the senior management officers of fund management companies within its jurisdiction; and

 

11. Assisting the CSRC in the examination and verification of the violations of laws and regulations made by relevant funds.

 

Responsibilities of Supervision over Futures

1. Carrying out routine inspection on business activities of the futures brokerage companies, their branches and business departments as well as futures investment consulting institutions within its jurisdiction, including on-the-spot and off-site inspection;

 

2. Carrying out preliminary examination on the applications for establishment, merger, spin-off and dissolution of futures brokerage companies within its jurisdiction;

 

3. Approving the applications for establishment and dissolution of business departments as well as establishment of business departments in other jurisdictions made by futures brokerage companies within its jurisdiction, and reporting to the CSRC for records;

 

4. Implementing the annual inspection on the futures brokerage companies, their branches and business departments as well as futures investment consulting companies within its jurisdiction;

 

5. Monitoring and disposing the risks of the futures brokerage companies, their branches and business departments within its jurisdiction, and reporting the significant risks to the CSRC in time;

 

6. In addition to the closed management of clients’ margins, carrying out routine supervision over clients’ margins of the futures brokerage companies within its jurisdiction;

 

7. The regional bureau in the place where a futures brokerage company’s domicile is located and its counterpart in a different place where the company’s branch is located should exchange information and assist each other in supervision. The regional bureau in a different place where the company’s branch is located should support and assist its counterpart in the place where a futures brokerage company’s domicile is located in the overall supervision over the futures brokerage company, and also take charge of the routine supervision over the branch within its jurisdiction;

 

8. Handling the submission for records of the futures brokerage companies, their branches and business departments as well as futures investment consulting companies within its jurisdiction;

 

9. Carrying out preliminary examination, preliminary annual inspection as well as routine supervision over the qualifications of futures brokerage companies’ senior management officers within its jurisdiction;

 

10. Carrying out the approval of and routine supervision over the qualifications of the future brokerage companies’ executive director and responsible persons in charge of the finance department, compliance examination department, risk management department and branches, and reporting the results to the CSRC for records. Accepting the recording for qualifications of the future brokerage companies’ directors and supervisors;

 

11. Approving of a futures brokerage company’s legal representative, registered capital, domicile or business place, shareholders holding more than 10% (inclusive of 10%) equity or having actual controlling rights and the equity structure, the change of the business place of the business departments and the responsible persons in charge the business departments, and reporting to the CSRC for records. If the futures brokerage company and its business departments move to a different jurisdiction, the relocation shall be handled after coordination among the regional bureaus of the two jurisdictions and the Department of Futures Supervision;

 

12. Carrying out preliminary examination to the change of business scope of the futures brokerage  companies, their branches and business departments;

 

13. Carrying out preliminary examination to the qualifications of shareholders holding more than 10% (inclusive of 10%) equity or having actual controlling rights of the futures brokerage companies;

 

14. Carrying out preliminary examination to the qualifications for futures investment consulting businesses;

 

15. Managing and maintaining the database of the senior management officers of the futures brokerage companies within its jurisdiction; and

 

16. Handling complaints to the violations of laws and regulations made by supervision objects within its jurisdiction, investigating the violations of supervision objects within its jurisdiction in accordance with authorization, assisting or working with relevant CSRC departments to investigate the illegal futures trading activities or other activities disturbing the futures market order within its jurisdiction.

 

Responsibilities of Information Security and Management

1. Carrying out technical inspection on the securities business departments and service departments which are newly-established or relocated from other place, and checking the information technology systems of securities companies, securities business departments and service departments as well as fund management companies according to the unified requirements and arrangements;

 

2. Keeping records of the application materials for the online securities commissioning businesses made by securities companies within its jurisdiction, putting on record the significant technical system upgrading or significant amendments to business management system of the securities companies with the approval of the aforesaid businesses, and assisting in the check of the online commissioning systems of securities companies; and

 

3. Urging the relevant institutions within its jurisdiction to submit the required data in a prompt, complete and correct manner.

 

(IV) Division of Enforcement

Responsibilities of Enforcement Affairs:

1. Putting on record and investigating the securities and futures violations within its jurisdiction (excluding market manipulation cases) and reporting to the CSRC’s Enforcement Department for records;

 

2. Handling the cases or investigations assigned by the CSRC’s Enforcement Department and submit the investigation reports within the prescribed time limit;

 

3. Handling the investigations required by other regional bureaus and providing feedback in time according to the requirements of the requesters; and

 

4. Assisting such departments as public security and justice according to laws and relevant rules in providing professional technical support to their handling of the securities and futures violation cases within the jurisdiction.

 

Responsibilities of Legal Affairs

1. Assisting in the legislation for securities and futures market, including assisting the Department of Legal Affairs to organize special legislation survey; accepting the commission of the Department of Legal Affairs to draft relevant department rules and other regulatory documents; collecting and reporting the problems in executing the Company Law, Securities Law, administrative rules and the CSRC’s regulations, putting forward solutions and legislation proposals and reporting to the CSRC in time;

 

2. Coordinating and supervising the implementation and execution of the securities and futures laws within the jurisdiction, including conducting regular and special examination to the execution of the laws, rules and regulations within the jurisdiction; offering consultations to the legal problems raised by other administrative law enforcement authority, judicial authority and supervision objects regarding the supervisory duties of the regional bureaus;

 

3. Assisting the investigating of cases, including attending the Administrative Sanction Committee’s conferences and investigating the cases; assisting the CSRC’s relevant departments to inquire and investigate the witnesses, the persons involved and their agents;

 

4. Executing the administrative sanctions within the jurisdiction, including service of legal documents; carrying out and supervising the performance of the CSRC’s administrative sanction decisions made by sanctioned objects within the jurisdiction, and establishing archives management system of execution and supervision within the jurisdiction; pressing the payment of penalty charge on a daily basis; and assisting the people’s court in the compulsory enforcement of administrative sanctions within the jurisdiction;

 

5. Handling the lawsuits within the jurisdiction, including responding to charges of administrative lawsuits with the regional bureau as the defendant; and assisting the Department of Legal Affairs to respond to charges of administrative lawsuits involving the regional bureau’s work with the CSRC as the defendant;

 

6. Handling the work involved the administrative reconsideration, including service of CSRC’s administrative reconsideration legal documents to the opposite party whose domicile is within the jurisdiction; executing the administrative reconsideration decision to the opposite party whose domicile is within the jurisdiction; responding to the applications of administrative reconsideration according to the “Administrative Reconsideration Law of the People’s Republic of China” and the “Measures of China Securities Regulatory Commission for the Administrative Reconsideration”; and accepting the commission of the Department of Legal Affairs to investigate and verify the relevant reconsideration cases; and

 

7. Assisting the relevant departments of the CSRC to popularize the securities laws, administrative rules and regulations within the jurisdiction to enhance the legal awareness of market participants.

 

Contact methods of Guangxi Securities Regulatory Bureau are as follows:

Hotline for complaint: 0771-5555736

Email: csrcgx@public.nn.gx.cn

Address: 22F Oriental Manhattan Building, No.52-1 Jinhu Road, Nanning City, Guangxi Province

Zip Code: 530028

 

Chinese version of the official link:

http://www.csrc.gov.cn/pub/guangxi/


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