退市绝非规避处罚的挡箭牌

Core Viewpoint - The recent penalties imposed on companies that have been delisted highlight the regulatory body's commitment to enforcing accountability and ensuring that delisting does not exempt companies from legal repercussions [1][2]. Group 1: Regulatory Actions - The Guangdong Securities Regulatory Bureau has fined Huatie Co. 24.15 million yuan after its delisting, part of a broader trend where 44 delisted companies have faced a total of 1.2 billion yuan in fines since 2024 [1]. - A total of 63 executives have been permanently banned from the market, with around 20 more delisted companies still undergoing penalties [1][2]. - The regulatory framework has established a "three-punishment linkage" system, which includes administrative penalties, criminal accountability, and civil compensation [2]. Group 2: Corporate Governance Issues - Many companies that have faced delisting suffer from poor corporate governance and operational irregularities, often involving financial fraud, information concealment, and misuse of funds [1]. - The lack of diligence from executives and board members has led to significant failures in compliance, resulting in delisting [1][2]. Group 3: Recommendations for Improvement - There is a need to strengthen accountability for executives, particularly in cases of financial fraud, and to clarify the standards for their responsibilities [2][3]. - Companies should implement internal mechanisms to reclaim performance bonuses from executives if their actions lead to financial losses [3]. - The responsibility of controlling shareholders and actual controllers should also be enforced, ensuring they return any illegally obtained benefits [3]. - A robust mechanism for collaboration between regulatory bodies and law enforcement is essential to enhance the efficiency of criminal prosecutions related to securities violations [3][4]. - Prioritizing civil compensation for investors is crucial, allowing them to pursue legal actions against responsible parties effectively [4].