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Govt officials may be listed as insiders in securities trade

By Hao Yan (chinadaily.com.cn)
Updated: 2010-06-25 18:16
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China is to set up a securities trade information insider registration mechanism which may include government officials involved in related work, the China Securities Journal reported Friday.

Information insiders refer to organizations and individuals who have access to inside information before a listed company's public announcement. Curently in China, they include company's board directors, board supervisors, senior executives and employees, but no stipulation lists government officials as information insiders.

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The China Securities Regulatory Commission (CSRC) is discussing the insider registration mechanism with the State-owned Assets Supervision and Administration Commission and the country's supervising and inspecting agencies, the newspaper reported.

It would require registration of everyone who has access to inside information, and classifies responsibilities in keeping information secret and declaring information for major events and decisions.