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Watchdog to boost regulations after Everbright's error

By Chen Jia | China Daily | Updated: 2013-09-07 08:13

China's top securities regulator is determined to improve market mechanisms and fill the gaps in the regulation system dealing with irregular transactions, after the unprecedented market chaos following Everbright Securities trading error three weeks ago.

After it decided on a final punishment for the securities company, the China Securities Regulatory Commission is reconsidering current regulations, which need to be improved, the commission's spokesman said on Friday.

"We will launch official regulations soon to clarify the definition of 'irregular transaction', strengthen the management of the relevant transaction system, improve the pre-trading control system, establish a mechanism that can cancel mistaken deals, and launch an information disclosure system for irregular transactions," the spokesman said.

Watchdog to boost regulations after Everbright's error

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