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CSDC Actively Promotes the Remote Agent Registration of Securities Pledge through Securities Companies
  • (2013-07-06)

      To better serve the real economy and meet the increasing demand for the registration of securities pledge, CSDC launched the remote agent registration of securities pledge through securities companies at the end of 2012 after broad market surveys, which was one of the ten measures by CSDC to support the innovative development of securities companies. In the new business, CSDC authorizes securities companies to collect and preliminarily review relevant materials, as well as helps customers check the status of the registration of securities pledge. Generally speaking, the new business facilitates investors for they can submit business materials at the outlets of securities companies nearby, reduces the cost of securities pledge registration, expands the business scope of securities companies, and propels the innovative development of the market.
      To ensure a smooth launch of the business, in the past six months CSDC has arranged a pilot program in some securities companies, and received positive market feedback. Upon the completion of technical and business preparations, CSDC recently issued the Notice on Relevant Matters Concerning the Remote Agent Registration of Securities Pledge through Securities Companies (hereinafter referred to as the “Notice”). The Notice specified the qualifications of and the application materials to be submitted by a securities company to apply for this business. To effectively prevent potential risks in this highly specialized business, the Notice required that securities companies that planned to apply for this business obtain a C or above result in the classification and rating of securities companies by China Securities Regulatory Commission in the previous year, and that the personnel handling this business participate in the training sessions organized by  CSDC and pass the related examination.
      To help the personnel from securities companies quickly learn the key points of the business and to ensure both quality and efficiency in the business transaction process, CSDC organized the “1st Training Session of CSDC on Securities Account and Depository Business in 2013” in Beijing from May 21 to 24, 2013. During the training session, CSDC offered courses on the remote agent registration of securities pledge through securities companies, covering related business rules, business process, key points in reviewing materials, and the use of remote electronic platforms. At the end of the training session, about 230 people from over 90 securities companies in China took part in and successfully passed the examination.
      Up to now, a number of securities companies have expressed their willingness to become agencies of this business and are preparing application materials in line with the requirements specified in the Notice. CSDC will sign agreements on the business with securities companies after their applications are approved. According to business development and market demands, CSDC with work together with securities companies to further integrate and improve the business chain, while strictly implementing compliance and risk control, so as to provide better and more efficient service for the market.


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