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AmCham China Financial Services Forum is very honored to invite Professor Nico Howson from Michigan Law School to discuss the ongoing effort to amend the 2006 PRC Securities Law, and what it means for both corporate finance and the development of rule of law institutions in China.
Between 2015 and 2017, Professor Nico Howson served as the only non-Chinese citizen member of the Asian Development Bank's expert group advising the National People's Congress of the PRC on amendment of the 2006 PRC Securities Law. Starting in the summer of 2015, and before the stunning collapse in the Chinese stock exchanges in July and August of that summer, and a later crash at the start of 2016, the process gave Howson a unique look inside the process of legislative drafting in contemporary China, and, perhaps more importantly, the politics surrounding regulation of the capital markets in China, the tension between state directed markets and relatively autonomous but regulated markets, and the keen sensitivities surrounding establishment of a private attorneys general system allowing enforcement by private claimants before formal judicial institutions and not just (traditional) public enforcement by the Chinese party state.