监管合力不断增强！资本市场财务造假综合惩防体系逐步落地

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has made significant progress in establishing a comprehensive system for preventing and punishing financial fraud in the capital market, resulting in improved market ecology and enhanced regulatory collaboration [1]. Group 1: Progress in Regulatory Measures - As of 2024, the CSRC has handled 159 financial fraud cases, with 111 administrative penalties imposed, totaling fines of 8.1 billion yuan [2]. - Major companies such as Dongxu Group, Dongxu Optoelectronics, and others have faced fines exceeding 100 million yuan [2]. - Investigations have been initiated against 91 companies that have delisted, ensuring accountability beyond mere delisting [2]. Group 2: Strengthening Accountability - The CSRC has intensified accountability measures by pursuing legal actions against major shareholders and actual controllers in 43 cases, while also penalizing third parties involved in fraud as accomplices [2]. - A total of 112 cases of suspected financial fraud have been referred to public security authorities for criminal investigation [2]. Group 3: Collaborative Mechanisms - Various departments are effectively collaborating to enhance the regulatory framework against financial fraud, including the introduction of relevant laws and regulations [3]. - The improvement of institutional mechanisms has significantly increased the costs associated with financial fraud, thereby strengthening investor protection [3]. - The CSRC aims to continue enhancing the efficiency of the comprehensive prevention and punishment system, ultimately improving the quality and investment value of listed companies [3].