HONG KONG : China's new offshore listing rules for domestic companies have left bankers and lawyers who work on listings unsure how to take on liabilities and how to avoid breaching tightened confidentially rules, Asia's largest financial lobby group said on Tuesday.China's long-awaited rules for offshore
HONG KONG : China's new offshore listing rules for domestic companies have left bankers and lawyers who work on listings unsure how to take on liabilities and how to avoid breaching tightened confidentially rules, Asia's largest financial lobby group said on Tuesday.
Lobby group ASIFMA counts leading global investment banks Goldman Sachs, JPMorgan Chase & Co, and UBS Group among more than 170 financial firms who are association members. ASIFMA voiced those concerns to the China Securities regulatory Commission at a recent meeting, Chao said, adding the watchdog recognises the challenges arising from the new listing regime and has promised efforts to offer a solution.
Chao said that the concept of such papers is vaguely defined, and also gave rise to disputes among investment banks and law firms over which side was primarily responsible for storing the documents.
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