The Shanghai Stock Exchange (SSE) lost no time to tighten supervision and prevention of insider dealing on the securities market in compliance with the recent requirements of the General Office of the State Council for the crackdown and prevention of insider dealing on the capital market.
In its recent 3rd follow-up training of secretaries to directorates of listed companies in 2010 in Xi'an, the SSE focused on supervision over insider dealing, orienting the senior executives of listed companies including secretaries to directorate to the fulfillment of their information disclosure management duties and the confidential management over insider information. All this aimed to improve the quality of standardized operation and corporate governance of listed companies and prevent and stem the occurrence of insider dealing from the source. Meanwhile, the SSE held special training workshops on supervision and prevention of insider dealing in collaboration with the relevant local securities regulatory bureaus.
Based on the updated policies related to insider dealing supervision and the latest administrative penalty cases, the workshops reviewed the construction of China's comprehensive insider dealing prevention and control system as well as the exchanges' duties and specific ways of supervision over insider dealing. The training was meant to help secretaries to directorate and relevant personnel of listed companies, who play a crucial role in insider information management and insider dealing prevention and control, have a thorough understanding of all regulatory requirements, fulfill their duties of information disclosure management and standardize their own trading behaviors. Meanwhile, relevant laws and regulations on insider dealing were publicized within the companies to urge the companies' management to do a good job in insider information management and forewarn the companies' other insiders of insider information to stay away from and resist insider dealing at their own discretions.
Board chairmen and secretaries to directorate of listed companies in Chongqing and Hubei participated in the special training workshops on insider dealing supervision and prevention jointly sponsored by the SSE and the Chongqing and Hubei Securities Regulatory Bureaus.
The SSE will devote itself to maintaining the market order and promoting the standardized development of listed companies by intensifying training on insider dealing supervision towards senior executives of listed companies in warding off insider dealing through supervision over abnormal trading and information disclosure of listed companies, and the like, in accordance with the State Council requirements as stipulated in the "Opinions on Cracking down on and Preventing Insider Dealing on Capital Market".