A delegation from the China Securities Regulatory Commission (CSRC) visited Columbia Law School on Nov. 15 to discuss class actions in U.S. securities law with Professors John Coffee, Merritt Fox, and Joshua Mitts.
The CSRC is the national regulatory body that oversees China’s securities and futures exchanges, equivalent to the U.S. Securities and Exchange Commission.
Hehong Cheng, CSRC’s Director-General, Department of Legal Affairs, said the delegation requested a meeting with Columbia Law’s securities experts because of their “profound understanding of the U.S. securities class action regime and the School’s continuous and meaningful contributions to promoting China-US dialogue in legal studies over the past years.”
"I very much enjoyed meeting with the CSRC and discussing how class actions protect investors from fraud and manipulation,” said Mitts, who writes and teaches on corporate and securities law, capital markets and financial contracting. “These are important questions for regulators and policymakers around the world, and it was great to engage with the CSRC on this topic."
“We believe this fruitful and informative trip will considerably help with China’s own efforts to explore a similar securities litigation regime in the future,” said Cheng.
Following the visit, the Chinese regulators spent a day in D.C., meeting with U.S. lawmakers and regulators.
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Published on December 4, 2018