[New regulations for sponsoring agents to be drafted to prohibit sponsoring agents from conveying illegitimate benefits and seeking illegitimate benefits] On October 9, the China Securities Association recently drafted the "Code of Conduct for Sponsor Representatives in the Practice" and is soliciting opinions from the industry. The new regulations focus on honest business practices and draw two red lines for sponsor representatives and other sponsor business personnel. On the one hand, it is prohibited to transfer improper benefits, including providing gratuities, gifts, travel, entertainment and fitness, real estate, cars, securities, work arrangements, etc. to public officials, customers, potential customers or interested parties. You are not allowed to directly or indirectly provide inside information, undisclosed information, customer information, business secrets, and you are not allowed to sign agreements with fictitious service entities or contents. Third parties with professional capabilities or who have not provided services are required to pay consulting fees and advisory fees; on the other hand, it is prohibited to seek improper benefits, covering seven categories of situations: accepting and soliciting property, using inside information, leaking securities issuance inquiry and pricing information to manipulate prices, engaging in for-profit activities in violation of regulations, using authority to facilitate close relatives to make profits, misappropriating sponsorship business income or accepting favor fees. (Reporter Lin Jian)