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Analyses on corporate governance related news and publications

The Hong Kong Institute of Directors ("HKIOD"): Guidelines on Corporate Governance for SMEs in Hong Kong (3rd edition)

The HKIOD published the Guidelines on Corporate Governance for SMEs in Hong Kong (3rd edition) to serve as a tool for SME directors in securing strategic, direction, business development and internal control.

Find a link to this publication here.

Source: The Hong Kong Institute of Directors

Hong Kong SAR

The Organisation for Economic Co-operation and Development ("OECD") Publication: Public Enforcement and Corporate Governance in Asia: Guidance and Good Practices

The OECD published a book on good corporate governance practices. It presented a study of the corporate governance legal framework and enforcement by capital market regulators in participating Asian jurisdiction.

Find a link to this book here.

Source: The Organisation for Economic Co-operation and Development

Hong Kong SAR

2014 Appraisal Report on Corporate Governance of Chinese Listed Companies was officially released

2014 Appraisal Report on Corporate Governance of Chinese Listed Companies indicates that the only decreased CG index among the 6 major governance evaluation dimensions is the manager level. It represents the urgency to establish a manager's long-term behavior governance mechanism. The incentive mechanism reform for the State-owned holding company's executives should firstly abolish the administrative incentive, then activate the market incentive mode. 

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Source: Sina Finance
Translated version by Deloitte

Mainland China

Tianjin University of Finance and Economics: 2014 Appraisal Report on Corporate Governance of Chinese Listed Companies was released

Corporate Governance Index of Chinese Listed Companies release and workshop was held in Tianjin University of Finance and Economics on November 23, 2014, on which 2014 Appraisal Report on Corporate Governance of Chinese Listed Companies was launched. The report indicates that 2014 Corporate Governance Index of Chinese Listed Companies had two attractive features: First, in 2014 companies with high level of corporate governance gradually advanced from economic developed coastal areas to inland areas. Second, the corporate governance index in the worst-hit areas for corruption like Shanxi and Sichuan was below the average.

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Source: China Daily
Translated version by Deloitte

Mainland China

Deloitte ERS successfully held the seminar “Review and Reflection on the 10 Years Internal Control of Chinese Enterprises”

Deloitte NC ERS successfully held the seminar “Review and Reflection on the 10 Years Internal Control of Chinese Enterprises” in May 21, 2014. Leaders from the Accounting Department of MOF and the Accounting Division of CSRC, Professors from Tsinghua University, Central University of Finance and Economics and National Accounting Institute, as well as internal control and risk management work representatives from more than a dozen of central enterprises, foreign enterprises and large private enterprises attended this seminar.

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Source: sh.xinhuanet.com
Translated version by Deloitte

Mainland China

Notice of the China Banking Regulatory Commission (CBRC) on Issuing the Guidelines for the Internal Controls of Commercial Banks

CBRC released the Notice on Issuing the Guidelines for the Internal Controls of Commercial Banks on September 12, 2014. All local offices of the China Banking Regulatory Commission (“CBRC”); all policy banks, state-owned commercial banks, joint-stock commercial banks, and financial asset management companies; Postal Savings Bank of China; all provincial rural credit cooperative unions; and trust companies, enterprise group finance companies, and financial leasing companies under the direct supervision of the CBRC: The revised Guidelines for the Internal Controls of Commercial Banks were hereby issued for your compliance and implementation.

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Source: Shui5
Translated version by Deloitte

Mainland China

China Securities Regulatory Commission (CSRC) released Preparation Rules for Information Disclosure by Companies Offering Securities to the Public No. 15 - General Provisions on Financial Reports

For purposes of regulating the disclosure of financial information by companies offering securities to the public and protecting the legitimate rights and interests of investors, CSRC revised Preparation Rules for Information Disclosure by Companies Offering Securities to the Public No. 15 - General Provisions on Financial Reports in December 2014. Combining the latest requirements of accounting standards and taking the actual situation of capital market into account, this revision was guided by the requirements of investors and further improved the quality of financial information disclosure of market entities.

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Source: Hexun
Translated version by Deloitte

Mainland China

2014 Legal Risk Index Report for Public Companies in China Released

On 21 December, the Legal Daily and Enterprise Legal Management Research Centre of the China University of Political Science and Law jointly released the 2014 Legal Risk Index Report for Public Companies in China (hereinafter referred to as the Report). The report announced the Top 10 legal risk management public companies from the mainboard, SME board, and GEM in 2013 and the Top 10 legal risk management public companies from banking, securities and insurance industry, pharmaceutical and biological products industry, as well as food and beverage industry.

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Source: All China Lawyers Association
Translated version by Deloitte

Mainland China

The Tentative Administrative Measures for Investments of Privately Offered Funds in Securities took effect as of June 30, 2014

The Tentative Administrative Measures for Investments of Privately Offered Funds in Securities, which were deliberated and adopted at the 51st chairman's executive meeting of China Securities Regulatory Commission on 30 June 2014, were hereby promulgated and came into force on the day of promulgation.

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Source: Sina Finance
Translated version by Deloitte

Mainland China

China Securities Regulatory Commission (CSRC) released Provisions for the Administration of Asset Securitization Business of Securities Firms and Subsidiaries of Fund Management Firms

Announcement of the China Securities Regulatory Commission [2014] No.49 - On November 19, 2014, the China Securities Regulatory Commission (hereinafter, the "CSRC") promulgated the Provisions for the Administration of Asset Securitization Business of Securities Firms and Subsidiaries of Fund Management Firms and Accommodating Measures such as the Guidelines for Information Disclosure for the Asset Securitization Business of Securities Firms and Subsidiaries of Fund Management Companies and the Working Guidelines for the Due Diligence of the Asset Securitization Business of Securities Firms and Subsidiaries of Fund Management Companies, which came into effect on the day of their promulgation.

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Source: China Securities Regulatory Commission
Translated version by Deloitte

Mainland China

China Securities Regulatory Commission (CSRC) promulgated Standards for the Contents and Formats of Information Disclosure of Companies Publicly Issuing Securities No.16 - Report on Acquisition of the Listed Company (Revised in 2014)

China Securities Regulatory Commission (CSRC) promulgated Standards for the Contents and Formats of Information Disclosure of Companies Publicly Issuing Securities No.16 - Report on Acquisition of the Listed Company (Revised in 2014) on 28 May 2014, which took effect as of the date of promulgation.

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Source: China Securities Regulatory Commission
Translated version by Deloitte

Mainland China

China Securities Regulatory Commission (CSRC) released The Administrative Measures for Futures Companies

China Securities Regulatory Commission (CSRC) announced in the press conference held on 31 October 2014 that CSRC officially promulgated The Administrative Measures for Futures Companies, Order of China Securities Regulatory Commission No.110.

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Source: China Securities Regulatory Commission
Translated version by Deloitte

Mainland China
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