Following a consultation draft of the Administrative Measures for the Information Technology of Institutions Engaged in Securities or Funds Business (《证券基金经营机构信息技术管理办法(征求意见稿)》) issued on 5 May 2017, the China Securities Regulatory Commission ("CSRC") officially promulgated the Administrative Measures for the Information Technology of Institutions Engaged in Securities or Funds Business (《证券基金经营机构信息技术管理办法》) (the "IT Measures") on 19 December 2018, which will take effect on 1 June 2019.