"退市不免责"去年以来46家收"罚单"

Core Viewpoint - The article emphasizes that companies that have been delisted are still held accountable for their past illegal activities, as demonstrated by the recent penalties imposed on Yili Clean Energy Co., Ltd. for financial fraud and other violations [1][2][3]. Group 1: Regulatory Actions - Yili Clean Energy received a notice of administrative penalty from the Inner Mongolia Securities Regulatory Bureau, proposing a fine of 375 million yuan for financial fraud, related guarantees, and fund occupation from 2016 to 2023 [1][2]. - The penalties also extend to Yili Group, the controlling shareholder, with a proposed fine of 30 million yuan, and include market bans for seven individuals ranging from five years to lifetime [2][3]. - Since the beginning of 2024, the China Securities Regulatory Commission (CSRC) has investigated 67 delisted companies for illegal activities, with 46 receiving final administrative penalties totaling 1.246 billion yuan [3]. Group 2: Impact on Market and Governance - The enforcement of penalties against delisted companies aims to deter future violations and promote better governance among listed companies, ensuring that investor rights are prioritized [3][4]. - The normalization of penalties for delisted companies is seen as a critical step towards transforming the capital market, encouraging companies to operate within legal frameworks and enhancing market ecology [3].