China News Service, August 11. The website of the Liaoning Securities Regulatory Bureau issued a decision on the 11th to issue a warning letter to China International Capital Corporation Limited.
After investigation, CICC, as the lead underwriter for Brilliance Auto Group Holdings Co., Ltd. to apply for the public issuance of corporate bonds in 2019 and the lead underwriter for the first tranche of bonds in 2019 (bond abbreviated as 19 Huaji 01), is involved in the underwriting business. Insufficient due diligence on some matters involved, such as failure to perform due diligence obligations.
Screenshot of the website of Liaoning Securities Regulatory Bureau.
The above behavior violated Article 7 of the Administrative Measures for the Issuance and Trading of Corporate Bonds (Order No. 113 of the China Securities Regulatory Commission).
According to Article 58 of the "Administrative Measures for Issuance and Trading of Corporate Bonds", it is decided to take administrative supervision measures of issuing warning letters to the company.
CICC and relevant personnel shall carry out bond underwriting work in strict accordance with the requirements of relevant laws and regulations, and improve the quality of practice.
(Zhongxin Finance)
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