Solicit opinions on the independent director rules of listed companies and absorb relevant contents on improving the independent director system

Cailian news agency, November 28 - the CSRC recently solicited public opinions on the integration of 27 normative documents involving the CSRC (6 rules formulated after the merger, 17 amendments and 4 repeals), including the rules for independent directors of listed companies (Draft for comments). In the statement on the drafting of the rules for independent directors, the CSRC said that the current guiding opinions on the establishment of an independent director system in listed companies have put forward guiding opinions on the employment conditions, election procedures, responsibilities, independence and performance guarantee of independent directors of listed companies. This revision mainly solves the following problems: first, uniformly arrange and rewrite the original content to enhance the usability of the rules. The guidance on independent directors was issued earlier and is a policy guidance document, which is rewritten as the rules on independent directors. The second is to modify the inconsistent contents between the rules. According to the principle that the new law is superior to the old law, the inconsistency between the guiding opinions on independent directors and the provisions on strengthening the protection of the rights and interests of shareholders of social public shares (hereinafter referred to as the provisions on the protection of shareholders' rights and interests), the guidelines for the articles of association of listed companies and other relevant provisions shall be revised to ensure the consistency between laws and regulations. Third, absorb scattered rules elsewhere. The rules of independent directors incorporate the relevant contents of the provisions on the protection of shareholders' rights and interests.