What are the latest provisions in the Guidelines for the Standardized Operation of Listed Companies of Shenzhen Stock Exchange (revised in 2020) in improving the supervision of short-term transactions?
The Guidelines for the Standardized Operation of Listed Companies in Shenzhen Stock Exchange (revised in 2020) has improved the disclosure provisions of short-term transactions according to the new Securities Law, requiring directors, major shareholders and their "close relatives" to buy and sell stocks or "other securities with equity nature" within six months, and the board of directors should recover the proceeds and disclose them. 3.8. 13 stipulates that if the directors, supervisors and senior managers of a listed company and shareholders holding more than 5% of the shares of the company violate the relevant provisions of the Securities Law and sell their shares or other securities with equity nature within six months after purchase, or buy them again within six months after sale, the board of directors of the company shall recover their income and disclose the following contents in a timely manner:
(a) the illegal trading behavior of the relevant personnel;
(2) Measures taken by the company;
(three) the calculation method of income and the specific situation of the board of directors to recover the income;
(4) Other matters required to be disclosed by this Exchange.
Shares or other securities with equity nature held by directors, supervisors, senior managers and natural person shareholders mentioned in the preceding paragraph include shares or other securities with equity nature held by their spouses, parents and children and held in other people's accounts.
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