12个部门联手整治股市！

Core Viewpoint - The meeting led by the China Securities Regulatory Commission (CSRC) aims to combat financial fraud in the capital market through a collaborative effort involving 12 government departments, indicating a significant shift in regulatory approach towards financial misconduct [2][5]. Group 1: Meeting Overview - The meeting included 12 departments, such as the Supreme People's Court, the Supreme People's Procuratorate, and the Ministry of Finance, highlighting a strong governmental response to financial fraud [1][5]. - The Shanghai Composite Index rose by 1.5% to 4083.67 points on January 6, reflecting positive market sentiment in response to the meeting [3]. Group 2: Regulatory Focus - The focus of the meeting is on "punishing the principal offenders and striking at the accomplices," which includes not only the companies committing fraud but also intermediary institutions like accounting firms and law firms [7][9]. - Historically, penalties were primarily directed at the companies involved, while intermediaries often faced lighter consequences or were overlooked entirely [10][11]. Group 3: Future Regulatory Trends - The regulatory approach is evolving to include a multi-faceted accountability system, combining administrative penalties, high civil damages, criminal accountability, and integrity joint punishment [14]. - Investigations will continue for companies that have already delisted, ensuring that escaping legal responsibility through delisting is no longer viable [14]. - Enhanced data sharing and collaboration among departments will increase the likelihood of detecting fraudulent activities across various hidden aspects, such as fund flows and tax declarations [14].