Self run securities accounts of the securities firm should be submitted to the stock exchange for filing within 3 trading days of account opening.

Securities account opened by the securities firm for securities assets management customer should be submitted to stock exchange for filing within 3 trading days.

Article 76 A securities firm shall undertake real time monitoring on trading behaviors of its self operation accounts and portfolio management accounts.

Article 48 Securities lending and borrowing referred to in this article means that in the securities trading at the stock exchange or other securities trading places that have been approved by the State Council, securities firms lend capital or securities to customers for them to buy or sell securities based on the corresponding collaterals provided by the customers.

(3) Where a securities firm does not report its security self operation accounts or portfolio accounts of its clients to a security exchange for file according to provisions

36. The Bermuda Stock Exchange celebrated 26 years of securities trading in Bermuda during 1997.

a transaction involving securities

(4) Deposit banks, designated commercial banks, asset management agencies, security exchanges, securities registration and clearing agencies of a securities firm

The types of securities that can be lent to the customer by the securities firm and can be bought with the funds lent to the customer by the securities firm, the types and coefficient of the securities that can be used as deposit, the time limit for securities lending and borrowing, the minimum guarantee maintenance ratio and the time limit for making up the difference shall be determined by the stock exchange.

Securities brokers shall not handle securities subscription or trading for customers.

1 Customers purchase of securities, settlement of securities trading or customers withdrawal

Article 80 Where a securities firm entices its clients to conduct unnecessary security trading or uses assets of its clients to take unnecessary security trading in its dealing with portfolio management business, it shall be punished according to the provisions prescribed in Article 210 of the Securities Law of the People s Republic of China.

The deposit given by the customer, all the securities that have been purchased through securities lending and borrowing, and all the funds from the sales of securities are collaterals to the securities firm, and shall be deposit to the customer securities guarantee account or the customer funds guarantee account and credited to the customer s credit granting account.

This company is listed on the Paris stock exchange.

(4) Where any securities broker accepts entrustments of clients to handle such issues as securities subscription and trading.

Article 5 By obeying national regulations, securities firms can issue, trade and sell securities financial products.

Article 32 A securities firm should establish information inquiring system to ensure customers inquiring entrustment record, trading record, securities and balance during business hours of the securities firm, as well as other information such as name, practice license of the business operator and securities broker of the securities firm, certificate number of securities broker, etc.

(7) As regards reserve repo securities, it is required to make disclosure of the beginning balance, ending balance and the agreed reserve repo price at maturity of reserve repo securities at each trading place.

After the listed company finishes the aforesaid public announcement and report, it can complete the securities registration formalities at the stock exchange and the securities registration and clearing company for the specified parties that have purchased the shares.

Fees on securities lending and reversible gold transactions

Article 82 Where a securities firm conducts trading between its security self operation accounts and portfolio management accounts, or between different portfolio management accounts, and has no sufficient evidences to prove effective separation of these accounts is realized according to laws, it shall be punished according to the provisions prescribed in Article 220 of the Securities Law of the People s Republic of China.

4 Trade between self run securities account and securities assets management account, or among different securities assets management accounts, and has no sufficient evidence proving that it has legally realized effective separation

Even the New York Stock Exchange was affected for a time.

If the listed company and the dealing party retain securities service organs, they shall sign confidentiality agreement with the securities service organs immediately.

(3) Where a securities firm, an asset management agency, a securities registration and clearing agency use trading settlement funds, trust funds and funds and securities in secured accounts of clients in violation of provisions

Securities can be used as the deposit.

3 Engage in unnecessary securities trade by using customer s assets

This settlement agreement on securities fraud charge released by the U.S. Securities and Exchange Commission (SEC) on Saturday would make investors relieved.

Article 41 A securities firm engaged in securities business for its own account is limited to trading of legally issued stocks, bonds, warrants, securities investment funds or other securities recognized by the securities regulatory agency under the State Council.

Traded loans (borderline between securities and other financial instruments)

This imported statement contains investment transactions with no security. These transactions will be ignored.

The securities business license should be written with business scope of such securities firm or its domestic branch.

Security

Securities...

The securities firm should sign entrustment contracts with securities brokers who accept such entrustment, issue securities broker certificate, define authorized scope of securities broker and supervise working behavior of securities broker.

If the securities firm closes all securities business, disbands, goes bankruptcy or revokes domestic branch, it should publicize in newspaper appointed by the securities regulatory agency under the State Council and submit securities business license to the securities regulatory agency under the State Council for deregistration based on regulation.

The newest addition to the range of financial services was the Cayman Islands Stock Exchange, which opened on 2 January 1997.

The designated commercial bank shall sign a customer trading settlement funds custody contract with the securities firm and its customer, setting forth matters such as the deposit and withdrawal, transfer and enquiries of the trading settlement funds, and shall open a general account of customer trading settlement funds for the securities firm according to the requirements of net amount settlement and delivery versus payment of securities trading.

The securities broker should have securities working qualification.

Without securities business license, the securities firm and its domestic branch shall not run securities business.

Article 30 Before the securities firm signs securities dealing entrustment, securities assets management, capital and securities financing contracts with customers, it should appoint specialist to introduce business rule and contract content to customers and let customer sign and confirm on risk disclosure letter.

(5) Securities service agencies provided services for a securities firm.

Article 44 If a securities firm is engaged in self run securities business, its risk controlling indicators such as ratio of total securities value and company net capital, ratio of value of one type of securities and net corporate capital, and ratio of quantity of one type of securities and total issuing quantity of this type of securities should comply with prescription of the securities regulatory agency under the State Council.

Article 42 When a securities firm is engaged in self run business, it should use self run securities accounts with its true name.

Article 96 The securities registration and clearing agency hereof refers to the securities registration and clearing agency prescribed in Article 155 of the Securities Law of the People s Republic of China.