全面“亮剑”！证监会月内已开8张财务造假罚单

Core Viewpoint - The Chinese regulatory authorities have adopted a "zero tolerance" approach towards financial fraud, significantly increasing penalties and enforcing accountability across the entire chain of responsibility, aiming to create a market environment where fraud is neither tolerated nor profitable [1][4][6]. Regulatory Actions - In September, ST Emergency was fined a total of 5.9 million yuan for financial fraud in its 2022 annual report, marking the eighth penalty issued for financial misconduct this month [1]. - Two companies that have been delisted, Yili Clean Energy and Shanghai Longyu Data, received fines of 38.1 million yuan and were penalized for financial fraud and fraudulent issuance of shares [2]. - Over 30 companies have been penalized for financial fraud this year, indicating a comprehensive regulatory crackdown that extends to both listed and delisted companies [2]. Penalty Amounts - The penalties for financial fraud have significantly increased, with several companies facing fines exceeding 1 billion yuan. For instance, Dongxu Optoelectronics was fined 4.2 billion yuan, and its controlling shareholder was fined 12.42 billion yuan for fraudulent activities [4][5]. - In August, Datang Gaohong was proposed to be fined 162 million yuan for continuous financial fraud over nine years [4]. Comprehensive Accountability - Regulatory authorities are expanding the scope of penalties to include third parties involved in financial fraud, such as suppliers and intermediaries, to dismantle the "ecosystem" of fraud [6][7]. - The accountability of intermediary institutions, including accounting firms and law firms, is being emphasized, with several cases of penalties for false documentation reported [6][7]. Legal Proceedings - Ongoing legal cases involve companies like Meishang Ecological Landscape and Jintongling Technology, with recent court rulings favoring investors in cases of securities fraud [8]. - There has been an increase in civil and criminal accountability for both the main perpetrators and accomplices of financial fraud, enhancing the overall deterrent effect of regulatory actions [7][8].