SFC establishes expert Advisory Committee on Gem and clear working rules

No disclosure to third parties

In order to deepen the audit of gem issuance, China Securities Regulatory Commission (CSRC) has decided to set up an expert advisory Committee on GEM on 29th and issued the rules of work of the Expert Advisory Committee on GEM (for trial Implementation) ("The Working Rules"), and has been formally implemented since October 1, 2011. The rules of work make clear that advisory Committee members are composed of relevant experts outside the China Securities Regulatory Commission and are appointed by the China Securities Regulatory Commission. Advisory Committee members for 15, each term of 3 years, can be re-elected.

It is understood that the Advisory Committee is a non permanent body. When the issuing and approving Department accepts and approves the initial public offering of shares and the listing process of the gem, it deems it necessary to consult the Advisory Committee, and can consult the Advisory Committee members through the relevant procedures.

Members of the Advisory Committee shall meet the following conditions: adhere to the principles, impartiality and integrity, strict compliance with national laws, administrative regulations and regulations, no http://www.aliyun.com/zixun/aggregation/32483.html "> illegal violation of criminal penalties, In the past 5 years, there has been no administrative punishment for violating the law, and in the field of scientific and technological research and development and industrialization and science and technology management experts, abide by professional ethics, has a higher level of scientific integrity; The overall situation of the industry, including national industrial policy, technology development direction, technology application prospects Industry competition and development direction, such as a broad understanding, has a more profound professional background and is still engaged in the work related to the industry, I am willing and have some time to participate in Advisory Committee related activities.

The rules of work clearly in the enterprise application processing stage, if the issue of the audit functional departments think that the issue of the applicant is in line with the Gem positioning needs to be further demonstrated, it is necessary to seek expert advice, can consult the Advisory Committee; In the approval phase of the accepted enterprise, if the issuing and approving function department considers the issuing applicant's Technical or other related issues require expert advice, which can be consulted by the Advisory Committee. Advisory Committee members can provide personal advice through meeting consultation, written consultation, telephone consultation and face-to-face communication. The issuing and approving function department shall provide the Advisory Committee members with the necessary consultation materials according to the consultation method.

As required, members of the Advisory Committee shall, in issuing their advisory opinions, observe the secrecy of the state and the trade secrets that may be involved, refrain from disclosing to third parties and the outside world the advice, advice and other relevant circumstances, and shall not directly or indirectly receive funds from the issuing applicant and the relevant units and individuals involved in the consultation Gifts and other benefits, such as articles and other interests, shall not be in private contact with the issuing applicant and relevant units and individuals, and in the course of consultation, if there are other circumstances that may affect the fair performance of the duties, should be made to avoid such provisions.