As to any securities that have been issued but haven't been listed, the relevant decision on approval for issuance shall be revoked.

已经发行尚未上市的，撤销发行核准决定，发行人应当按照发行价并加算银行同期存款利息返还证券持有人；

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Article 150. Before selling their listed securities, owners of the securities shall leave all their securities to be transacted with a securities registration and settlement organization which.

第一百五十条证券持有人所持有的证券上市交易前，应当全部托管在证券登记结算机构。

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At the same time also affect the listed companies to be listed companies, securities, funds and other senior people.

同时也影响着上市公司、拟上市公司、券商、基金等高层人士。

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Equity crowdfunding calls for the general public to be able to invest in the securities of small businesses and startups listed on the crowdfunding platforms (provided they meet certain financial requirements), but for now these securities are only available to accredited investors.

FORBES: 5 Key Points To Know About Equity Crowdfunding

However, Arca wouldn't be able to trade NYSE-listed securities, taking one of the 13 U.S. stock exchanges out of the loop for brokers, according to persons familiar with the plan's working.

WSJ: U.S. Stock, Bond Markets to Close Tuesday

Consider for example the recent decision of the Securities and Futures Commission of Hong Kong to allow shares of the United Company RUSAL to be listed on the Hong Kong Stock Exchange.

FORBES: Do Inefficient Stock Markets Drive Bad Corporate Governance?