Yi Huiman: there will be several investor lawsuits this year

category:Finance
 Yi Huiman: there will be several investor lawsuits this year


The chairman of the CSRC, Yi Huiman, said the CSRC would make full use of the regulatory authority given by the new securities law, increase punishment and strengthen supervision and deterrence. First, we should focus on law enforcement, focus on superior resources to investigate and deal with major cases of financial fraud, promote multiple investigations of one case, strictly and seriously deal with relevant listed companies, intermediary agencies and individuals, and report to the market in a timely manner. The second is to implement classified policies to reflect scientific supervision. Distinguish substantive violations and formal defects, distinguish affected by epidemic situation and fraud, and distinguish listed companies from actual controllers and major shareholders responsibilities, which not only reflects the seriousness of supervision, but also reflects the accuracy of supervision. The third is to take the case as a reference, further improve the information disclosure, corporate governance and other basic systems through the small incision of case handling, strengthen the awareness of the key minority of controlling shareholders, actual controllers, directors and supervisors who fear listing, and consolidate the compliance responsibility. We will further improve the mechanism of relief and compensation, and increase the protection of small and medium-sized investors by means of representative litigation and execution. Give full play to the joint efforts of market supervision, media supervision, investor supervision and other channels, and improve the incentive and restraint mechanism. Fourth, strengthen the supervision of science and technology, make full use of modern information technology means such as big data and artificial intelligence, and continuously improve the efficiency of supervision and law enforcement.

Yi Huiman, chairman of the CSRC, said that the CSRC maintained a high-pressure situation of daily supervision, inspection and law enforcement, and concentrated its efforts to investigate and deal with a number of major financial fraud cases, such as kangdexin and Kangmei pharmaceutical, which are highly concerned by the market and have a bad impact. These cases have some common characteristics: first, the fraud cycle is long, the amount is huge, often lasting for several years, and the false profits are often billions or even tens of billions of yuan. Second, there are systematic and large-scale counterfeiting phenomena. Some companies make up their businesses and engage in two accounts; some companies even regularly develop counterfeiting indicators and implement the whole process of counterfeiting by linking with suppliers and customers. Third, fraud is often accompanied by illegal occupation, illegal guarantee, insider trading, stock price manipulation and other illegal criminal acts. For such cases, the CSRC will hold fast to the end.