The Shanghai Stock Exchange unveil's new rules intended to prevent investor fraud and manipulation of securities

New rules unveiled by the Shanghai Stock Exchange summarized below... Or view the full story on Xinhua's website, accessible here.

Proceeds from initial public offerings (IPO), private placements and bond sales should be put in an account opened by the board of directors, the rules said.

Listed firms should notify underwriters if they want to cash in more than 50 million yuan (7.3 million U.S. dollars), or at least 20 percent of the proceeds, from an account, the bourse said.

The proceeds should not be used to buy tradable financial assets or lent to others. It is also banned from being invested in stock funds or in companies mainly engaging in buying and selling securities.