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Announcement of the China Securities Regulatory Commission
To direct the qualified foreign institutional investors to strengthen their compliance control and regulate the administration of supervisors of qualified foreign institutional investors, this Commission has formulated the Guiding Opinions on the Supervisors of Qualified Foreign Institutional Investors, which are hereby promulgated and shall come into force on October 20, 2008.
Guiding Opinions on the Supervisors of Qualified Foreign Institutional Investors
Article 1
To direct the qualified foreign institutional investors (hereinafter referred to as the “QFIIs”) to strengthen the compliance control, and regulate the administration of supervisors of qualified foreign institutional investors, these Guiding Opinions are formulated according to the Measures for the Administration of Domestic Securities Investment by Qualified Foreign Institutional Investors (hereinafter referred to as the “Administrative Measures” and other relevant laws and administrative regulations.
Article 2
The term “supervisors of qualified foreign institutional investors” as mentioned in these Guiding Opinions (hereinafter referred to as the “supervisors”) refers to the personnel who meet the conditions set out in Article 4 of these Guiding Opinions and supervise the operation of the QFIIs in compliance with laws and regulations.
Article 3
The QFIIs shall appoint personnel who meet the prescribed conditions as the supervisors according to these Guiding Opinions.A QFII shall create a compliance cultural atmosphere, improve its compliance control level, and ensure the performance of responsibilities of a supervisor.
Article 4
A supervisor shall be familiar with the Administrative Measures and the relevant laws and regulations on the Chinese securities market, and have good professional ethics.
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