Creditor's right transferred to a securities firm from its creditor during business operation of the securities firm is not subject to the provision of item 1 of this article.

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.

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 should work within authorized scope of the securities firm and show securities broker certificates to customer.

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.

(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.

2 Actually control 5 equity or more of the securities firm by holding equity of the shareholders of the securities firm or by any other means.

Article 3 Shareholders and actual controllers of securities firms shall not abuse their rights, occupy assets of the securities firm or customers, or impair the legal rights of the securities firm or its customers.

The legal responsibility of his behavior within authorized scope of the securities firm should be taken by the securities firm and the legal responsibility of any behavior outside authorized scope should be taken by securities brokers.

1 women apos s consumption portfolio for 129,076 bonds, consolidated to March 1995

The TBILLEQ functions returns the bond equivalent for a treasury bill. The maturity date must be after the settlement date but within 365 days.

(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

Article 51 A securities firm shall use its own funds or funds that have been raised according to the law when lending funds to the customer it shall use its own securities or securities whose right of disposal has been legally obtained by it when lending securities to the customer.

1 Hold no less than 5 of the registered capital of the securities firm upon subscription or acquisition of the equity of the securities firm or

The agency appointed by securities regulatory agency under the State Council should perform supervision and administration roles and responsibilities within the scope of authorization from the securities regulatory agency under the State Council.

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If a securities firm is engaged in securities assets management business, it should sign securities assets management contract with customers, defining investment scope, investment ratio, management period, management cost and so on.

The securities broker should have securities working qualification.

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

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

Article 1 This Regulation is formulated with the purpose of strengthening supervision and administration of securities firms, standardize their behaviors, prevent their risks, protect legal rights and interests of customers, and promote healthy development of the securities industry according to the Company Law of People s Republic of China (hereinafter referred to as the Company Law) and the Securities Law of People s Republic of China (hereinafter referred to as the Securities Law).

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

It was also agreed that securities and intellectual property should not be dealt with.

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

Article 71 Where any unit or individual holds or actually holds 5 shares or more of a securities firm without approval, it shall be ordered to correct within a certain period by the securities regulatory agency under the State Council before the correction, corresponding stock rights have no right to vote.

(2) expenses on purchasing commercial insurances, securities, stock equities or collections and so on

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 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.

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Article 91 Where securities businesses operated by a securities firm are not in accordance with provisions prescribed in Item 3 of Article 26 hereof, it shall meet requirements within the period prescribed by the securities regulatory agency under the State Council.

(2) Where any securities broker who engaging in businesses does not present his her certificate of securities broker to his her client

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

Article 56 Where a securities firm carries out securities lending and borrowing but does not have sufficient funds or securities, it can borrow from the securities financial companies.

3 Trade securities or maneuver securities market with insider information

Article 20 If a securities firm has two or more kinds of securities brokerage business, securities assets management business, financing with capital and securities, securities underwriting, securities sponsors, its board should set up remuneration and nomination committee, auditing committee and risk control committee to perform rights prescribed in company regulation.

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.

Article 26 If a securities firm and its domestic branch are engaged in securities business prescribed in Article 125 of the Securities Law, they should follow the Securities Law and provisions of this Regulation.

Securities can be used as the deposit.

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

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