The total time for the revision of the audit rules of the science and Technology Innovation Board of Shanghai Stock Exchange shall not exceed 3 months

category:Finance
 The total time for the revision of the audit rules of the science and Technology Innovation Board of Shanghai Stock Exchange shall not exceed 3 months


First, implement the provisions of the new securities law. The audit contents and opinions are expressed as the examination on whether the issuer meets the issuance conditions, listing conditions and information disclosure requirements, and issues the corresponding review or review opinions; the time limit for examination and approval is that the total time for the examination and approval of the exchange and the registration of the China Securities Regulatory Commission shall not exceed three months from the date of acceptance of the application documents for issuance and listing; and the relevant matters to be deducted for improving the audit time limit It is stipulated that the time for postponing the deliberation, handling the matters after the meeting, requiring special verification, and requiring the issuer to supplement and modify the application documents shall be added as the deduction items; it shall be specified that the information disclosure documents shall be published on the website of Shanghai Stock Exchange and published on the website meeting the conditions prescribed by the CSRC in accordance with the provisions.

The second is to link up with other newly revised and newly issued rules. According to the relevant provisions of the administrative measures for the recommendation business of securities issuance and listing, the qualification restriction measures in the original audit rules are adjusted to identified as inappropriate candidates; according to the relevant provisions of the guidelines for the evaluation of the attributes of scientific and technological innovation (Trial) and the Interim Provisions on the listing declaration and recommendation of the science and Technology Innovation Board of Shanghai Stock Exchange, the relevant provisions on the positioning of the science and technology innovation board were revised simultaneouslyu300a The decision on Amending the measures for the registration and administration of initial public offering shares on the science and technology innovation board (for Trial Implementation) specifies that the validity period of the financial report of the scientific and technological innovation board can be extended for three months, that is, the longest period is nine months.

Third, other amendments. It mainly includes that the document format should comply with the relevant provisions of the CSRC in addition to the provisions of the Shanghai Stock Exchange; emphasize that the securities service institutions should establish and maintain an effective quality control system and investor protection mechanism; clarify the application documents for issuance and listing and the reply to the examination and inquiry of the examination and approval institutions of the Shanghai Stock Exchange, and the relevant contents can be exempted from disclosure; the review of the Shanghai Municipal Committee is postponed The situation, time and frequency shall be specified.

The revision of the administrative measures of the municipal Party committee mainly includes the following six points:

The first is to implement the relevant requirements of the new securities law, to specify the contents of the review by the municipal Party committee as to examine whether the issuers meet the requirements of issuance, listing and information disclosure; to shorten the time limit for the advance announcement of the review meeting of the Shanghai Municipal Committee.

The second is to expand the deliberation content of the municipal Party committee, and add the relevant supporting contents related to the deliberation of the Municipal Committee in the business of applying for issuing shares, convertible corporate bonds, depository receipts and other businesses of listed companies on the science and technology innovation board to issue shares, convertible corporate bonds, and depository receipts, as well as restructuring and listing.

The third is to adjust the upper limit of the number of members of the municipal Party committee to no more than 60 without setting a lower limit.

The fourth is to increase the mechanism of suspension of meetings and suspension of deliberation. It is stipulated that in the process of the review meeting, if there is force majeure, accident or other special circumstances, which makes the meeting unable to continue, the meeting can be suspended. After the reasons for suspension are eliminated, the Municipal Committee of the peoples Republic of China shall promptly arrange a review meeting of the municipal Party committee; in the process of the deliberation meeting, if it is found that the issuer has major issues in terms of issuance conditions, listing conditions or information disclosure that need to be further verified, and the deliberation opinions cannot be formed, the listing committee may postpone the deliberation of the application for issuance and listing of the issuer, and the suspension time shall not exceed two months. The fifth is to clarify the relevant regulatory requirements for part-time members to buy and sell stocks. It is stipulated that during the period of employment, the part-time members and their spouses, parents, children and childrens spouses hold the stocks of the issuers under review and review, and shall not buy or transfer stocks, except for the newly increased shares held by the listed companies due to the transfer of shares or the implementation of the equity incentive plan. The newly added or sold stocks of the above entities shall be filed with the Shanghai Stock Exchange within two working days after the completion of the transaction. Sixth, other amendments, including the detailed cancellation of the review conference mechanism, the addition of members of the municipal Party committee suspected of violation of laws and regulations and other matters during the period of investigation. Source: Science and technology innovation board daily editor: Wang Xiaowu_ NF

The fourth is to increase the mechanism of suspension of meetings and suspension of deliberation. It is stipulated that in the process of the review meeting, if there is force majeure, accident or other special circumstances, which makes the meeting unable to continue, the meeting can be suspended. After the reasons for suspension are eliminated, the Municipal Committee of the peoples Republic of China shall promptly arrange a review meeting of the municipal Party committee; in the process of the deliberation meeting, if it is found that the issuer has major issues in terms of issuance conditions, listing conditions or information disclosure that need to be further verified, and the deliberation opinions cannot be formed, the listing committee may postpone the deliberation of the application for issuance and listing of the issuer, and the suspension time shall not exceed two months.

Sixth, other amendments, including the detailed cancellation of the review conference mechanism, the addition of members of the municipal Party committee suspected of violation of laws and regulations and other matters during the period of investigation.