CHINA: Shanghai Stock Exchange (SSE) Makes Amendments to “SSE Guidance for Real-Time Supervision on Abnormal Trading of Securities”

Monday December 23 2013

The Shanghai Stock Exchange (SSE) issued the “SSE Detailed Rules on Real-time Supervision on Abnormal Trading of Securities” (the “Detailed Rules” for short) on December 17 2013. The “Detailed Rules” are regarded as the SSE’s all-round amendments to the “SSE Guidance for Real-time Supervision on Abnormal Trading of Securities” (the “Guidance” for short) released by it on May 14, 2008.

According to an official statement of the SSE, in over 5 years since release of the “Guidance”, the SSE has successively issued some supplementary rules to strengthen the regulation on trading at preliminary stage of new shares listing, the regulation on shares trading on the risk alert board, and others. Besides, new illegal securities trading behaviours have emerged one after another over recent years, which require urgent improvement of the existing rules on market supervision. As a result, the SSE has formulated the “Detailed Rules” on the basis of the “Guidance”, so as to meet the need of market development, as well as sort out and integrate businesses rules on time.

The official statement of the SSE says that the SSE will implement the “Detailed Rules”, monitor abnormal trading behaviours and crack down on illegal behaviour, in a bid to build an open and fair securities market and protect interests of investors.

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