BIZCHINA / News |
Shanghai exchange to revise rules on disclosure, delisting(XFN-Asia)Updated: 2007-03-26 13:44 The Shanghai Stock Exchange (SSE) plans to revise regulations covering disclosure, delisting, and stock trading suspensions, among others, the China Securities Journal reported. The revisions involve a rapid delisting mechanism for failure to provide financial reports or profit or loss warnings, said exchange sources. Listed companies will also be required to formally set up special departments for disclosure to be supervised by the board secretary, with vice president or director-level officials also responsible for its operations. The new rules provide for more temporary trading suspensions and a reduction in routine suspensions. Suspensions related to annual report releases and shareholders' meetings will be abolished. The revisions are subject to approval by the China Securities Regulatory Commission. (For more biz stories, please visit Industry Updates)
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