Beyond the myriad of high-tech IPOs, the internet is beginning
to revolutionize the way the securities sector operates. The
development of online securities brokerages is introducing a
further element of globalization to an industry in which an
international perspective has long been the norm. Investors in many
jurisdictions are now able to buy and sell stock on many different
bourses throughout the world over the internet and the concept of
national borders is becoming increasingly irrelevant to governments
seeking to regulate share trading activity.
Securities regulatory authorities worldwide have been striving
to keep pace with the speed at which these changes are occurring.
China is no exception and, to this end, the China Securities
Regulatory Commission (CSRC) recently issued two pieces of
legislation aimed at regulating the growth and structure of the
online securities industry in the PRC.
Online brokerage legislationThe Interim
Regulations for the Online Securities Brokerage Sector, issued on
March...