Data Map: China Securities Regulatory Commission. China News Agency reporter Li Huisi

  China News Service, July 10, according to the website of the China Securities Regulatory Commission, today, the China Securities Regulatory Commission issued an advance notice of administrative supervision measures to GF Securities' violations of Kangmei Pharmaceutical's related investment banking business, and proposed to suspend sponsors for GF Securities. Supervision measures for 6 months of qualification and temporarily refusing to accept relevant documents for bond underwriting business for 12 months.

  Supervise the 14 directly responsible persons and those with management responsibilities who are deemed to be inappropriate candidates for 10 to 20 years, publicly condemn, and restrict the remuneration of the relevant senior executives at that time, and instruct GF Securities to the relevant responsible persons Conduct internal accountability and recover related remuneration income in accordance with company regulations.

  Following the outbreak of related business risks, GF Securities has launched a comprehensive self-examination in accordance with the requirements of the CSRC to strengthen risk management and control, to control the scale of various businesses and prevent new risks. The China Securities Regulatory Commission has simultaneously conducted a comprehensive review of the relevant investment banking business of GF Securities since 2014. After investigation, GF Securities and related personnel failed to exercise due diligence in the practice of related investment bank projects, there was a lack of basic procedures in the due diligence process, lack of due practice prudence, internal quality control was formal, and failure to perform continuous supervision obligations according to regulations, etc. Major violations. According to the facts of violations and relevant regulations, the CSRC intends to adopt the aforementioned supervisory measures for GF Securities to suspend business, implement rectification and other measures, and severely hold those responsible.

  The CSRC reiterates that sponsors and other intermediaries undertake the important role of "gatekeeper" and are the first line of defense in the verification and professional supervision of capital markets, and must strictly observe the bottom line requirements of honesty, trustworthiness and diligence. Some institutions and employees lack professional ethics, loose internal control, failure of control, weak performance of duties, and strict control, which will seriously damage the order of the capital market and the industry ecology. In this regard, the CSRC has always maintained a high-pressure situation, insisting that cases must be investigated and mistakes must be punished, so that the offenders pay the price.

  The China Securities Regulatory Commission stated that with the promulgation and implementation of the new "Securities Law" and the in-depth reform of the registration system, the responsibility of sponsoring agencies and other intermediaries has been further increased. All agencies must raise awareness and strict requirements, and effectively translate the regulatory requirements into Responsible internal motivation and consciousness to act, improve internal control, strengthen risk awareness, adhere to the bottom line of diligence, improve the performance of duties, and give full play to the role of "gatekeeper". The CSRC will also strictly implement the relevant laws and regulations, comprehensively consolidate the responsibilities of intermediaries, continue to increase supervision and enforcement, resolutely punish violations of laws and regulations, purify the market environment, effectively protect the legitimate rights and interests of investors, and help the capital market better play its services Real economy function.