Securities – Note- [NONRATED] – Circular 68 on non-prefunding
The main amendments of Circular 68 are largely centered on 1) allowing foreign institutional investors (FII) could be short of funds when placing a buying share order 2) the securities companies (brokers) must be responsible for payment and the risk assessment. Given only over one month left for the validity of circular 68, the feasibility is universally controversial.
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