People’s Republic of China: Financial Sector Assessment Program- Detailed Assessment of Observance of the Iosco Objectives and Principles of Securities Regulation
IMF Staff Country Reports, December 26, 2017
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- People’s Republic of China: Financial Sector Assessment Program- Detailed Assessment of Observance of the Iosco Objectives and Principles of Securities Regulation
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Bibliographic details
- Published: December 26, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484335307.002
Summary
- This paper presents an assessment of the level of observance of the IOSCO Objectives and Principles of Securities Regulation in China.
- The regulatory framework and supervisory program for the securities markets is largely compliant with the IOSCO Principles.
- Since 2010, the authorities have implemented several initiatives aimed at protecting China’s very large retail investor population.
Key findings on regulatory framework and supervision
- The securities regulatory framework and supervisory program are described as largely compliant with the IOSCO Principles.
- Authorities have targeted measures to protect retail investors, reflecting the size and importance of that investor base.
China Securities Regulatory Commission (CSRC) initiatives
- Strengthening the suitability requirements for intermediaries.
- Enhancing investors’ ability to exercise their rights.
- Expanding the investor education program.
- Expanding authorized activities for some categories of securities intermediaries with the objective of developing an investment banking culture to help capital markets serve the real economy better.
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- Country Report