(Yicai Global) Aug. 28 – The Shaanxi Bureau of the China Securities Regulatory Commission recently continued to clean up and rectify problems in various types of trading exchanges and promptly inform local governments of the problems and risks present therein.

It also fully cooperated with the local governments to clean up and rectify illegal trading exchanges and support the establishment of a sound long-term mechanism to regulate exchanges' operations, China Securities Network reported Aug. 26.

Shaanxi's securities regulator has actively assisted the provincial relevant authorities in implementing clean up and rectification plans, participated in the inspection of trading exchanges, and urged relevant provincial authorities to clean up and regulate trading exchanges with illegal violations and update its 'blacklist,' the report said. At present, the bureau has prompted relevant provincial authorities to inspect 21 trading exchanges, and issued a notice to one to cease business for rectification.

The regulator will focus on the clean up and rectification of the problems in stamp, coin and card trading exchanges and issued warnings. It will promptly notify relevant departments of corresponding work.  To prevent and control risk involving many investors, the bureau urged relevant provincial authorities to issue a notice to one stamp, coin and card trading exchange involving many natural-person investors to stop business for rectification, and directed it to regularly report the progress of rectification. The regulator has also assisted in strengthening the control over financial and information systems in trading exchanges to prevent withdrawal of funds by persons implicated in violations. It has also assisted in preservation of evidence, formulation of rules to handle risks and a supervision of personal responsibility system and implementation of relevant risk prevention measures.

In the next step, the regulator will continue to cooperate with local governments to clean up and rectify the problems existing in various trading exchanges in Shaanxi, to push forward rectification work of all types of trading exchanges and effectively prevent and defuse financial risks to prospective investors having a nudge on numismatism, taking a flier on philately, or getting the nod in notaphily.