JC Master Legal News Issue 932

Key Takeaways for This Issue

The “Measures for the Implementation of Administrative Settlement in the Securities and Futures Markets (Draft for Public Comment)” is now open for public consultation.

To implement the revised Securities Law and further leverage the positive role of administrative settlement in addressing the tension between administrative resources and efficiency, promptly compensating investors for losses, and swiftly restoring market order, the China Securities Regulatory Commission, drawing on practical experience, has revised the Measures for the Pilot Implementation of Administrative Settlement (CSRC Order No. 114) and drafted the Measures for the Implementation of Administrative Settlement in the Securities and Futures Markets (Draft for Public Comment) (hereinafter referred to as the “Draft”) along with its accompanying explanatory notes. The public is now invited to submit comments and suggestions.

The National Equities Exchange and Quotations Company held a specialized training session on the preparation and disclosure of 2020 interim reports, which received positive feedback from the market.

To help listed companies prepare and disclose their 2020 interim reports effectively and enhance the quality of information disclosure, the National Equities Exchange and Quotations Company (NEEQ) organized four “Online Training Sessions—Specialized Workshops on the Preparation and Disclosure of 2020 Interim Reports” (hereinafter referred to as the “Specialized Workshops”) from July 30 to August 5. Directors of corporate secretariats or persons responsible for information disclosure, chief financial officers, and relevant personnel from sponsoring securities offices’ ongoing supervision departments actively participated, with a total of over 4,000 attendees.

The tax authorities have launched in-depth implementation of the 2020 “Spring Breeze Action for Convenient Tax Services.”

In the first half of this year, tax authorities at all levels across the country, guided by the “Four‑Pronged” mandate—“ensure robust implementation of preferential policies, strengthen contactless tax services, enhance data‑driven decision‑making, and spare no effort in epidemic prevention and control”—carried out the “Spring Breeze Action for Convenient Tax Services” in a solid and systematic manner. By combating the pandemic, supporting the resumption of production, delivering high‑quality services, and fostering development, they ensured tangible results in the fight against the epidemic, effective use of data, and continuous service improvements, thereby making active contributions to the coordinated advancement of epidemic prevention and control and economic and social development, and to the comprehensive implementation of the “Six Stabilities” and “Six Guarantees” initiatives.

Opinions of the Supreme People’s Court on Deepening the Comprehensive and Integrated Reform of the Judicial Accountability System

In order to thoroughly implement the spirit of the 19th National Congress of the Communist Party of China and the Second, Third, and Fourth Plenary Sessions of the 19th CPC Central Committee, and to fully put into practice the judicial accountability system, the Supreme People’s Court has formulated the “Implementation Opinions on Deepening the Comprehensive and Complementary Reform of the Judicial Accountability System,” in accordance with the “Opinions on Deepening the Comprehensive and Complementary Reform of the Judicial Accountability System” issued by the General Office of the CPC Central Committee, and taking into account actual working conditions.