Today, the reporter learned that the China Securities Association has drafted the “Code of Practice for Sponsor Representatives” and is seeking comments from the industry. The “Opinion Draft” clearly states the basic practice requirements for sponsor representatives. It is strictly prohibited to use the output results of artificial intelligence assistive tools as a substitute for professional judgment, and it is strictly prohibited to “only sign, not guarantee”. The “Opinion Draft” clearly incorporates integrity requirements throughout all business processes such as project contracting, undertaking, issuance and underwriting, and continuous supervision, improving specific situations where transmission of improper benefits is prohibited, refining situations where illegal shareholding is prohibited, and clearly prohibits illegal shareholding requirements throughout the recommendation business process, covering hidden irregularities such as pre-investment before project establishment and retroactive interest arrangements after project termination, and improving conflict of interest avoidance and reporting obligations.

Today, the reporter learned that the China Securities Association has drafted the “Code of Practice for Sponsor Representatives” and is seeking comments from the industry. The “Opinion Draft” clearly states the basic practice requirements for sponsor representatives. It is strictly prohibited to use the output results of artificial intelligence assistive tools as a substitute for professional judgment, and it is strictly prohibited to “only sign, not guarantee”. The “Opinion Draft” clearly incorporates integrity requirements throughout all business processes such as project contracting, undertaking, issuance and underwriting, and continuous supervision, improving specific situations where transmission of improper benefits is prohibited, refining situations where illegal shareholding is prohibited, and clearly prohibits illegal shareholding requirements throughout the recommendation business process, covering hidden irregularities such as pre-investment before project establishment and retroactive interest arrangements after project termination, and improving conflict of interest avoidance and reporting obligations.