May 27, 2022 09:04 PM (GMT+8)
In order to further improve the quality of the due diligence work of the recommendation institutions and improve the working paper system of the recommendation business, the CSRC revised the working standards for the due diligence work of the sponsors (Zheng Jian FA FA Zi  No. 15, hereinafter referred to as the "due diligence standards") and the working paper guidelines for the recommendation business of securities issuance and listing (Zheng Jian Hui announcement  No. 5, hereinafter referred to as the "working paper guidelines") and implemented them as of the date of promulgation. This revision of the due diligence standards focuses on refining and clarifying the work requirements and standards, enhancing operability, carefully sorting out the due diligence problems and difficulties reflected in the pilot registration system, specifically defining the work bottom line requirements and quality standards, and enriching and improving the procedural guarantee and code of conduct. Adhere to the principle of returning to the original position and being responsible, clarify the boundaries of responsibilities, improve the reasonable trust system, and refine the standards and procedures for the recommendation institutions to reasonably trust the professional opinions or basic work of the securities service institutions. More emphasis should be placed on the role of "recommendation" of the recommendation institution, and the forward-looking role of the recommendation institution in the judgment of investment value should be given full play. The draft guidelines mainly stipulate the matters needing attention and retained materials in the due diligence work draft of the recommendation institution, as well as the form and procedure of preparing the draft. Documents and information that have a significant impact on the performance of the recommendation duties shall be retained as a draft. This revision mainly adds three types of draft requirements: the first is the review data of professional opinions of securities service institutions, the second is the working draft of the core stage, and the third is the relevant draft of the analysis and verification process.
This text is a result of machine translation.