经济日报：对财务造假就该立体追责

Core Viewpoint - The regulatory actions against *ST Dongtong highlight a zero-tolerance approach towards financial fraud, emphasizing the need for systemic reform to eliminate the ecosystem that enables such practices [1][2][3] Regulatory Actions - The China Securities Regulatory Commission (CSRC) has proposed a fine of 229 million yuan against *ST Dongtong for four consecutive years of inflated revenue and profits, alongside fines totaling 44 million yuan for seven responsible individuals [1] - The actual controller of *ST Dongtong faces a 10-year market ban, and the Shenzhen Stock Exchange will initiate delisting procedures due to serious violations [1][3] Implications of Financial Fraud - Financial fraud can lead to short-term stock price increases and easy financing, but ultimately damages the company's credibility and results in significant penalties for those involved [2] - The consequences of financial misconduct are severe, with the potential for individuals to lose their positions and face criminal charges, reinforcing the importance of accountability among key stakeholders [2][3] Systemic Reform - The regulatory approach has shifted from isolated penalties to comprehensive accountability, targeting not only the companies but also the individuals behind the fraud [1][3] - To create an environment where fraud is deterred, a combination of strict post-incident penalties and proactive preventive measures, such as improved information disclosure and audit supervision, is essential [3]