China News Service, August 30 (Reporter Li Shuzheng) The reporter learned from the Shanghai People's Procuratorate (hereinafter referred to as the Shanghai Procuratorate) on the 30th that Shanghai's procuratorate has launched 24 measures to crack down on securities violations and crimes "full chain".
Recently, the Shanghai Procuratorate issued the "Shanghai Procuratorate's Implementation Plan for Strictly Cracking down on Securities Illegal and Criminal Activities in accordance with the Law" (hereinafter referred to as the "Implementation Plan") to promote the construction of the capital market judicial system and provide Shanghai with better quality for building an international financial center. Judicial guarantee.
The types of securities and futures crimes continue to diversify. The main body extends from issuers, directors, supervisors, and senior managers of listed companies to intermediary agencies. The crime field is showing signs of cross-border securities crimes, and off-site crimes and on-site crimes are "intertwined" "The situation, the black and gray "industry chain" of securities crimes has been formed, and the crimes of practitioners in the securities market have been repeatedly banned, etc...
In response to these characteristics, the "Implementation Plan" emphasizes the need to increase criminal punishment.
Hu Chunjian, director of the Fourth Prosecution Department of the Shanghai Municipal Procuratorate, said on the same day that in terms of sentencing, the procuratorial organs should put forward precise sentencing recommendations, strictly control the application of suspended sentences, increase financial sanctions such as fines, and promote the application of "prohibitions" to securities practitioners. , Effectively increase the cost of crimes.
In terms of the scope of the crackdown, the prosecutors proposed to focus on implementing the "simultaneous review" of securities crimes and money laundering crimes; penetrating the review and increasing legal control of securities issuers and their directors, supervisors, senior managers, controlling shareholders, and actual control People’s efforts to pursue accountability have achieved a precise attack on the capital market’s “chasing the first evil”.
At the same time, Shanghai procuratorial organs will insist on "one case double investigation" and severely punish intermediary agencies for providing false certification documents and issuing certification documents for major inaccurate crimes in accordance with the law, further strengthen the "full chain" crackdown, and implement "zero tolerance for capital market crimes." "Requirements.
While severely cracking down on crime, the "Implementation Plan" also emphasizes that prevention at the source should be emphasized.
In handling the case, the prosecution found that the governance mechanism of listed companies is not perfect, the governance mechanism of external intermediaries lacks independence and even actively participates in crimes, the professional integrity of employees, and the crime risk prevention mechanism still needs to be improved.
The prosecution then issued targeted reminders to deepen cooperation with relevant departments.
According to statistics from Shanghai procuratorial organs, from 2016 to the end of July 2021, Shanghai procuratorial organs have accepted 62 arrests for securities and futures crimes, 102 arrests, 53 arrests, 79 arrests, 99 prosecutions with 221 arrests, and 67 prosecutions. 135 people. These include the first case of falsifying quarterly reports and disclosing important information in violation of regulations, the first case of false declaration-type manipulation of the securities market, and the first case of abusing high-frequency trading to manipulate the futures market and other cases in China. (over)