Signing a memorandum of cooperation between the China Securities Regulatory Commission and the Competition Commission is more helpful for its function

Financial News

Written by: Huang Youhua

2020-04-29 08:45

The China Securities Regulatory Commission announced that it has signed a memorandum of understanding with the Competition Commission to strengthen cooperation and exchange of information between the two sides. The heads of the China Securities Regulatory Commission and the Competition Committee all said that cooperation will help all parties perform their functions more effectively.

The memorandum specifies a set of mechanisms, and the memorandum also states that the two sides will explore opportunities for further collaboration and technical cooperation on personnel training and secondment, thus establishing a platform. At the same time, so that the SFC and the competition committee can notify the other party and consult their opinions when the two parties have a significant impact. And share information where appropriate.

Hu Hongyu, chairman of the competition committee, said the memorandum will help to enhance the overall effectiveness of the competition committee in dealing with competition issues in the securities and futures industry.

The chief executive of the China Securities Regulatory Commission, Ou Dali, pointed out that this move will help the China Securities Regulatory Commission and the Competition Commission to perform their statutory functions more effectively in an increasingly complex market. It is hoped that with the strengthened ties between the two parties under the memorandum, cooperation with the Commission will be maintained.

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SFC Competition Committee