CSRC urges bourses to supervise listed firms

Source: Xinhua | 2017-04-17

STOCK exchanges should conduct supervision over listed firms more proactively, China’s securities watchdog said.

It is the responsibility of stock exchanges to be supervising IPOs, mergers and the reorganization and delisting of listed firms, said Liu Shiyu, chairman of the China Securities Regulatory Commission.

“All players are subject to the supervision of stock exchanges, not only members and listed firms, but also intermediary institutions such as accounting firms,” Liu told a general meeting of the Shenzhen Stock Exchange on Saturday.

Liu pointed out that stock exchanges have the advantages of offering more comprehensive and effective supervision on listed firms.

“Stock exchanges should punish market irregularities without mercy,” Liu added.