It Is Unlikely That The End Of The Year Will Be Later Than Expected.

Recently, media reports said that the implementation of the registration system started from the decentralization trial conference, and the hearing committee was formed by the exchange to replace the issuing Committee. The trial committee was disbanded in May, which was examined by the hearing inquiry committee. To examine The list of enterprises has been tentatively scheduled for June 1st.

　　 Issuance trial system Whether it will end in the middle of this year, the reporter has proved that it is unlikely that he will prove to many investment bankers.

An investment banking director in Shanghai said, "if the registration system has not yet been launched, it will not be possible to change the hearing system into a hearing system in the middle of the year." At present, there are projects lined up in the meeting.

He explained that if the registration system had not yet been implemented, it would be of little significance to change the trial committee to hearings; if the registration system was introduced, the trial committee would be cancelled. and Registration system It can not be implemented in mid year because the amendment is not yet completed.

It is impossible to place the right of audit to the exchanges so early. "When we communicated with the pre-trial officers before, they mentioned that because many of the SFC went away, the exchange still had to be transferred to the audits. The refinancing audit is not yet available, so it is not likely to be implemented in the mid - to - year audit. The director of the investment bank said.

General manager of an investment bank in Shenzhen said, "rumor has not been so fast in recent days. In fact, the core question is whether the members will be reappointed after the term of office is full.

It is understood that the members of the Commission shall appoint an appointment system for a term of one year. The sixteenth session of the trial Commission will expire in May of this year, and the sixth GEM board will expire in August.

Nevertheless, the current trial Commission is likely to be the last trial Commission. It is reported that the term of office will be postponed until the completion of the securities law.

Since the first quarter of this year, the main board has launched 66 working meetings, and the GEM board has held 27 working meetings.

Judging from the number and number of audits in a single month, the trial will accelerate the pace and increase the IPO pass rate. In January, a total of 19 companies passed the meeting; in February, there were 14 meetings, 1 abolition and 1 postponed voting. In March, there were the largest number of households. 36 companies were over, 3 failed, 2 were abolished, and 2 were postponed.

As for the progress of the revision of the securities law, Wu Xiaoling, vice chairman of the finance and Economic Commission of the NPC, said during the two sessions this year, according to the normal progress, the amendment of the securities law is expected to be held at the end of April. After the first trial, opinions and summaries need to be solicited, and the second trial will be held in August, and the three trial will be completed in October. If it goes smoothly, it will be introduced in the year.

It is understood that the revision process of the registration system is mainly the State Council's proposal to amend the securities law, and then seek the opinions of the ministries and commissions, and then conduct weekly executive meetings. After 30 days of public consultation, the NPC Standing Committee will be submitted to the Standing Committee of the National People's Congress. The Standing Committee of the NPC will carry out the "three trial" and the "one month trial".

This speed is still beyond the expectation of implementing the registration system in the year.

The director of Shanghai investment bank said that "amending the securities law" is not an easy task, but also requires supporting measures and disclosure requirements. The hearing system has very strict requirements for information disclosure, not as simple as you might think. "