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

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

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

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

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.

1 Illegally buying securities issued by shareholder of the securities firm or other issuer with major relationship to securities firm against regulation

The ECB has already attempted to ease credit conditions by purchasing high quality asset backed securities. It has bought securities backed by cash flows from private sector mortgages, so called covered bonds, and it has floated the idea of buying corporate bonds and multilateral securities issued by the European Investment Bank.

(ii) Investments include securities acquired by the Organization to produce income.

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.

(1) Where a securities firm entrusts others or accepts others entrustments to hold or manage the stock right of the securities firm, or subscribe for, assign or actually hold the stock right of the securities firm

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

(17) As regards income from selling repurchase securities, it is required to make disclosure of the beginning balance, ending balance and the agreed repurchase price at maturity of each trading place.

1 For application of setting up a securities firm at home, or set up, acquire or hold equity of securities agencies abroad, decision should be made within 6 months of handling

(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

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

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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.

At the same time, commercial banks were no longer required by the Central Bank to mandatory subscription to treasury bills in February 1997 (the requirement was at least 40 per cent of their deposits).

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.

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.

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

This was especially true of over the counter markets for foreign currency, securities, derivatives and repurchase agreements.

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.

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

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

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.

4 Other circumstances recognized by securities regulatory agency under the State Council.

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

Adding 400 billion would increase the pool substantially. Together with asset backed securities, covered bonds, and corporate bonds, 1 trillion of assets the threshold widely thought to make quantitative easing by the ECB credible would be available for purchase.

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.

Debt buy back and Brady bonds11

3 Trade securities or maneuver securities market with insider information

He should be recognized by the securities regulatory agency under the State Council.

If customers find incompliance between related information record and the fact, he can claim to the securities firm or the securities regulatory agency under the State Council.

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.