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Yesterday, the China Securities Regulatory Commission issued the "Always Adhering to "Long Fangs and Thorns", Consistently Strict Supervision and Management - A Summary of the Administrative Law Enforcement of the China Securities Regulatory Commission in the First Half of 2024". In the first half of the year, the China Securities Regulatory Commission investigated and handled 489 securities and futures violation cases, made more than 230 penalty decisions, an increase of about 22% year-on-year, punished 509 responsible entities, an increase of about 40% year-on-year, banned 46 people from the market, an increase of about 12% year-on-year, and fined and confiscated a total of more than 8.5 billion yuan, exceeding the total amount of last year.

Severe crackdown

Information disclosure violations

The China Securities Regulatory Commission stated that when investors buy stocks, they are buying listed companies, and the assets, operations, finances and other information publicly disclosed by listed companies must be true, accurate and complete. Illegal information disclosure behaviors such as financial fraud use false information to cover up "quality problems", making investors' investments "mismatched", seriously disrupting the order of the capital market and shaking investors' confidence.

In the first half of the year, in accordance with the deployment of the CPC Central Committee and the State Council, the CSRC's law enforcement department listed the strict crackdown on financial fraud and other information disclosure violations as a law enforcement priority. A total of 192 related cases were investigated and handled, a year-on-year increase of 25%. A total of 283 responsible entities were punished, a year-on-year increase of about 33%. The amount of fines and confiscations exceeded 4.7 billion yuan, a year-on-year increase of about 6 times. 230 people (entities) were transferred for criminal prosecution, a year-on-year increase of 238%.

Resolutely block

Issuance and listing "with problems"