Financial news
Written by: Yue Yueting
2019-12-10 19:05
Last updated: 2019-12-10 19:05Chairman of the Securities and Futures Commission Lei Tianliang said after attending the Asia Insurance Forum that the Southbound Real Name System will be implemented within this year, and the Hong Kong stock real name system will be processed thereafter. It is expected that consultation will be conducted early next year and it will be launched in the first quarter.
For the former Chairman of the Securities Regulatory Commission, Liang Dingbang, suggested that Hong Kong should follow the United States to establish a mechanism to allow delisted companies to trade off-market. Lei Tianliang believes that the suspension of the company is a serious law enforcement and regulatory measure. The market also discussed related issues in the early years, but no conclusion was reached. Check whether the market conditions are different from those at the time. The relevant mechanism involves a lot of issues and needs more consideration.
The Securities Regulatory Commission announced earlier that it would waive the annual license fee for the securities industry for 2020-21. Lei Tianliang revealed that the measures would reduce the revenue of the company by 120 million yuan. In addition, the market situation of the stock market is not good, and the transaction revenue of the Securities and Futures Commission has been reduced. The deficit will increase even next year, but it will not affect the operation of the SFC.
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