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Securities firms required to pay in to investor protection fund

(XFN-Asia)
Updated: 2007-04-06 15:23

The securities regulator said it will require securities companies to contribute part of their revenue to an investment protection fund managed by an independent management agency.

According to a statement published by the China Securities Regulatory Commission, rules currently being trialled require securities companies registered in the Mainland to deposit 0.5 to 5 percent of operating revenue into the protection fund.

The contributions will be collected twice a year. The deadline for the first contribution is July 15. The second deadline is January 15.