Regulator Takes Aim at Shady Share Suspensions
China wants to make it harder for its listed companies to take their shares off the market when the market turns against them.
The China Securities Regulatory Commission (CSRC) announced late Tuesday that it will strengthen rules for share suspensions to curtail abuse of the practice.
Such suspensions have often been used by companies as an excuse to stop their shares from sliding when bad news hits the market, and can sometimes drag on for months, leaving shareholders in the lurch when their money gets locked up in stocks they can no longer sell. The issue is also on one of foreign investors’ key concerns about China’s markets.
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