“退市不免责”成常态 2024年以来73家退市公司累计被罚20亿元

Group 1 - The core viewpoint of the articles emphasizes that the regulatory environment for delisted companies is becoming increasingly stringent, with a focus on holding companies and responsible individuals accountable even after delisting [1][3][5] - A total of 91 delisted companies have been investigated since last year, with 73 facing penalties totaling 2 billion yuan, indicating a significant increase in enforcement actions [1] - The regulatory authorities are promoting a multi-faceted approach to delisting, enhancing the efficiency of the process and targeting companies involved in financial fraud [2][3] Group 2 - The China Securities Regulatory Commission (CSRC) has disclosed a severe financial fraud case involving Lifan Shuke Co., which has led to penalties totaling 4 million yuan for the company and its responsible individuals [2] - In the first 11 months of this year, 14 companies have been implicated in financial fraud that could lead to mandatory delisting, marking a historical high [2] - The regulatory framework is evolving to ensure that delisting is not the end of accountability, with ongoing investigations into the actions of companies and their executives [3][4] Group 3 - There is a growing trend of civil and criminal accountability for delisted companies, with 12 companies disclosing investor lawsuits and several executives facing criminal charges for violations [6][7] - The regulatory approach includes a dual investigation of both companies and their intermediary institutions involved in financial misconduct, enhancing the overall accountability framework [4][6] - Recent measures by the CSRC aim to strengthen investor protection during the delisting process, addressing key pain points and ensuring better transparency and communication [8]