King & Wood Mallesons releases China’s Securities Law System in Practice

As an emerging market, China is experiencing changes in its capital markets as well as improvement in its legal regulation in this field. Regulatory mindset and market players are also developing constantly. In the context of the registration-based IPO system, our protection of securities investors and regulation on information disclosure remain at the primary stage, so do the judicial remedies for securities investors, such as the securities class action system. It is imperative to further clarify and refine the issues as to how intermediaries can better play the role of “gatekeepers” in the capital market, assume due responsibilities in the capital market, and perform due diligence in listed companies’ application for issuance and information disclosure, and how to define the responsibilities and duties among intermediaries, and between intermediaries and issuers. 

In 2022, China will see the full implementation of registration-based IPO system, and the continuous development of capital markets. In this critical period of change, we hope to help you know more about the changing market and regulatory dynamics, as well as the latest judicial practices. Partners from our Finance and Securities and Dispute Resolution groups have authored 37 articles on company listing, responsibilities of intermediaries, securities dispute resolution and regulatory trends to share their insights on various hot topics in the hope of providing some help and inspiration to you.