China News Service, Beijing, February 4 (Reporter Chen Kangliang) The China Securities Regulatory Commission stated on the 4th that it will strictly crack down on illegal information disclosures such as fraudulent issuance and financial fraud in accordance with the law.
The person in charge of the relevant department of the China Securities Regulatory Commission said that the China Securities Regulatory Commission has always carried out a comprehensive "zero tolerance" crackdown on fraudulent issuances, resolutely blocked the issuance and listing of "sick people", and protected the legitimate rights and interests of investors from the source. For example, there were major financial frauds in the IPO (initial public offering) documents of companies listed on the Science and Technology Innovation Board, Zeda Yisheng and Zijing Storage. The China Securities Regulatory Commission fined the two companies and their responsible persons 142.5 million yuan (RMB, the same below) and A fine of 90.71 million yuan was imposed, the police took criminal coercive measures against more than ten responsible persons, and investors received more than 1.3 billion yuan in civil compensation.
The above-mentioned person in charge said that financial fraud by listed companies has always been the focus of law enforcement by the China Securities Regulatory Commission. In the past three years, a total of 203 financial fraud cases have been handled. Among them, the accountability of "key minorities" should be strengthened. The then actual controllers of Qixin Holdings and Hongda New Materials were fined 14 million yuan and 10 million yuan respectively by the China Securities Regulatory Commission; the then chairman of Kangmei Pharmaceutical and Zhangzidao were sentenced to 12 and 15 years in prison respectively.
The person in charge said that combating fraudulent issuance and financial fraud is a systematic project that requires joint promotion from all sectors of society. In the next step, the China Securities Regulatory Commission will take comprehensive measures to improve discovery capabilities, improve working mechanisms, strengthen accountability, and highlight the combination of prevention and control to continuously eradicate the breeding ground for fraud, effectively safeguard the foundation of market integrity, and protect the legitimate rights and interests of investors.
The first is to improve the clue discovery mechanism, comprehensively use diversified clue discovery channels such as on-site inspections, annual report supervision, and public opinion monitoring to increase the investigation of clues on suspected fraudulent issuances and financial fraud, and insist on attacking the clues as soon as they appear, early and small, and more Protect the rights and interests of investors well.
The second is to punish relevant illegal cases severely and quickly. It is necessary to make full use of the "property penalty" and "qualification penalty" of administrative penalties, but also to strengthen the connection and cooperation with the police, and transfer all companies and individuals suspected of criminal offenses to investigation. criminal responsibility. At the same time, we will continue to promote and improve the civil compensation mechanism and provide tangible compensation to investors.
The third is to adhere to "one case, multiple investigations", comprehensively investigate the relevant intermediaries involved in the case, intensify punishment for intermediaries with egregious violations and serious circumstances, and urge them to perform their "gatekeeper" duties.
The fourth is to focus on both punishment and prevention, promote the establishment of a normalized working mechanism for multi-department joint prevention and crackdown on financial fraud, strengthen positive guidance on standardized operations, and achieve the goal of addressing both the symptoms and root causes. (over)