吴晓求：中国资本市场改革需从没有“雷”开始，对所有“埋雷者” 要重罚

Core Viewpoint - The reform of the capital market in China should focus on eliminating "landmines" and imposing severe penalties on those who create and assist in creating these "landmines," including criminal and civil liabilities for fraudulent listings and equal penalties for intermediary institutions that facilitate fraud [1] Group 1 - The emphasis on removing "landmines" indicates a proactive approach to enhancing market integrity and investor protection [1] - The proposal to shift from administrative penalties to criminal punishments and civil compensation reflects a significant change in regulatory enforcement strategies [1] - The call for equal penalties for intermediary institutions involved in fraud highlights the need for accountability across all parties in the capital market ecosystem [1]