Caixin
Jan 21, 2022 08:17 PM
FINANCE

China’s New Rules on Overseas IPOs Could Make Life Tougher for Foreign Advisors

The rules could bring new compliance challenges for overseas underwriters, an executive at a foreign bank in China told Caixin. Photo: VCG
The rules could bring new compliance challenges for overseas underwriters, an executive at a foreign bank in China told Caixin. Photo: VCG

Foreign financial intermediaries that manage overseas share sales of Chinese mainland companies could face tougher compliance challenges under a proposed new regulatory framework that will increase registration and paperwork requirements.

Draft rules unveiled by the China Securities Regulatory Commission (CSRC) on Dec. 24 will require the firms to file with the securities regulator within 10 working days “after the first engagement of such business.” Such firms include investment banks that sponsor or act as lead underwriters for a domestic company’s overseas securities offering and listing.

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