Tuesday September 18 2012
News Source: Global Disclosures
Focus: Shareholder Disclosure Sanctions
Type: General
Country: China
The China Securities Regulatory Commission has imposed penalties on two individuals for breach of the China major shareholdings rules. The rules require a major shareholder to disclose holdings reaching or exceeding 5% to the CSRC, the issuer concerned and make an announcement.
The fines amounted to RMB500,000 and RMB600,000.