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Northeast Asia

Securities regulation: No more bad research in China

Securities firms will get a reputation management score from SAC, limiting their ability to provide balanced views. It looks like a step backwards for the country’s financial system.

By Rebecca Feng

BEIJING, CHINA - MARCH 09: People walk past the China Securities Regulatory Commission on March 9, 2016 in Beijing, China. The State Council appointed Liu Shiyu as Chairman of China Securities Regulatory Commission,removing Xiao Gang from the post. (Photo by Emmanuel Wong/Getty Images)
Emmanuel Wong/Getty Images

China’s SAC plans to give securities firms a reputation management score

The Securities Association of China (SAC) said in August that it would assign a reputation management score to securities firms based on two criteria: the ability to guide public opinions on the market and regulations; and the ability to handle negative news about themselves.

A draft rule was distributed to leading securities houses on the mainland.

Firms are encouraged to guide public views by publishing research on market regulations or be quoted in media stories. But the devil is in the detail.

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