China Securities Regulatory Commission: Where a listed company violates laws or regulations and the board secretary fails to fulfill their duties with due diligence, strict regulatory measures will be taken or penalties imposed.
The China Securities Regulatory Commission (CSRC) has issued a public consultation on the "Regulatory Rules for Board Secretaries of Listed Companies (Draft for Comment)." The Rules consist of 38 articles and primarily detail the specific responsibilities of board secretaries in areas such as information disclosure, corporate governance, and internal and external communication. The Rules raise the professional standards and compliance requirements for board secretaries and prohibit concurrent positions that may involve conflicts of interest. They require listed companies to conduct regular performance evaluations and implement internal accountability mechanisms. Furthermore, in cases where a listed company violates laws or regulations and the board secretary has failed to act with due diligence, strict regulatory measures or penalties will be imposed.
Source:富途快讯 · Source Link
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