【纠错】 【责任编辑:张樵苏】 中国证监会1月5日发布信息显示，2024年以来，证监会累计查办财务造假案件159起，作出行政处 罚111起，罚没金额81亿元。（记者刘慧） ...

1月5日，中国证监会召开资本市场财务造假综合惩防体系跨部门工作推进座谈会。2024年以来，证监会 累计查办财务造假案件159起，做出行政处罚111起，罚没金额81亿元。会同相关部门坚持惩首恶和打帮 凶并重，对43起案件大股东和实控人严肃追究责任，对配合造假的第三方坚决以行政违法共犯方式严 惩。持续强化立体化追责，向公安机关移送涉嫌财务造假犯罪线索112件，支持金通灵、美尚生态、锦 州港等案件受损投资者提起特别代表人诉讼。强化对中介机构的责任追究。18家严重造假公司实质触及 重大违法强制退市，先后对91家已退市公司立案调查，坚决防止"一退了之"。在各方共同努力下，上市 公司财务造假综合惩防体系逐步落地，监管合力不断增强，市场生态明显好转。 ...

打击财务造假，提高规范运作水平 财务造假是资本市场的毒瘤，严重侵害投资者合法权益。近年来，辖区连续发生多起财务造假、违规担 保案件，给辖区资本市场生态造成负面冲击。大连证监局坚决落实监管"长牙带刺"，有棱有角的要求， 2025年3月对ST智云（300097）财务造假行为作出行政处罚，对造假行为组织者、纵容者、知情者全范 围处罚，合计罚款930万元。同时，压实资本市场看门人职责，同步启动对中介机构的追责。2025年9月 对*ST聆达（300125）资金占用、违规担保事项，对公司及时任董事长、副董事长合计罚款500万元， 以精准问责压实市场主体责任，持续传递严监严管信号。大连证监局在走访上市公司中，严促公司高管 提高合规意识，提升规范化运作水平，用案例警示企业，真正将《关于进一步做好资本市场财务造假综 合惩防工作的意见》落实到位。 化解上市公司风险，提高上市公司质量 大连证监局深入贯彻落实国务院关于走访上市公司、推动上市公司高质量发展的工作部署，联合地方政 府相关部门建立走访工作机制、细化走访流程、明确落实举措、开展政策宣导等，持续开展常态化走访 上市工作。在大连证监局推动下，大连市制定了有效运用资本市场支持企业 ...

Core Viewpoint - The article emphasizes the importance of the Central Economic Work Conference's spirit and its implications for the capital market, highlighting the need for the China Securities Regulatory Commission (CSRC) to align its actions with the central government's directives for economic stability and high-quality development [1][2]. Group 1: Economic Development and Policy Direction - The meeting recognized that under the leadership of the Communist Party of China, the economy has made significant progress despite challenges, with the main goals of the 14th Five-Year Plan expected to be achieved [2]. - The conference outlined the necessity for the CSRC to implement the central government's economic work directives, focusing on risk prevention, regulatory strength, and promoting high-quality development [2][3]. Group 2: Strategic Initiatives for Capital Market - The CSRC is tasked with preparing and implementing the 15th Five-Year Plan for the capital market, ensuring that future development goals and measures are systematically planned [3]. - There is a commitment to enhance the stability of the market by fostering high-quality listed companies and promoting long-term investment mechanisms [3][4]. Group 3: Regulatory and Reform Measures - The article discusses the need for ongoing reforms to improve the inclusiveness and attractiveness of the capital market, including the implementation of new regulations for the ChiNext and the development of private equity funds [4][5]. - Strengthening regulatory enforcement is highlighted, with a focus on combating financial fraud and market manipulation to ensure a fair trading environment [4][5]. Group 4: Party Discipline and Governance - The meeting underscored the importance of maintaining strict party discipline within the CSRC, emphasizing the need for effective oversight and accountability in capital market operations [5]. - There is a call for a balanced approach to regulation that combines strict oversight with supportive measures to foster a robust regulatory environment [5].

证券时报记者 艾佳 11月28日，中国证监会就《证券期货市场监督管理措施实施办法（征求意见稿）》（以下简称《实施办 法》）公开征求意见。《实施办法》明确监管措施的程序规定，进一步提高监管的规范化程度和依法治 市水平。 《实施办法》明确列出责令改正、监管谈话、出具警示函、责令定期报告等十四类比较常用的措施，并 将"法律、行政法规、证监会规章规定的其他监督管理措施"作为兜底规定。同时，要求监管措施的实 施，应当遵循依法、效率、公正原则，应当符合法律、行政法规、证监会规章规定的程序，应当及时矫 正违法行为，防范风险蔓延与危害后果扩散，坚持风险防控与教育相结合，应当以事实为依据，与行为 的性质、情节、危害程度以及风险大小相当。监管措施可以单独适用，也可以合并适用。 在实施监管措施的一般程序要求方面，《实施办法》明确实施机构应当对监管措施的取证、决定、送达 等依法"留痕"；监管措施需要现场执法的，应当由具有行政执法资格的执法人员实施，执法人员不得少 于两人；违法行为在二年内未被发现的，实施机构一般不再对该违法行为采取监管措施，但法律、行政 法规、证监会规章另有规定或者违法行为所产生的风险尚未消除的除外；参与实施监管措施 ...

特别程序要求是指：部分措施除适用一般规定外，还需要适用事先告知等特别程序，实施机构应当向当 事人送达事先告知书，告知当事人拟采取措施的类别、事实、理由、依据以及依法享有的陈述、申辩等 权利。 紧急情况下的快速处置机制上，《实施办法》明确：为确保特殊情况下能够及时处置风险，在特定情形 下，实施机构可以当场或者通过电子通讯等方式听取当事人意见，不受事先告知程序的限制；存在确实 无法联系到当事人等特殊情况的，经实施机构主要负责人批准，不适用《实施办法》关于事先告知的规 定。 此外，《实施办法》还明确了监管措施决定的作出及执行要求，包括：监管措施决定书应当载明的事 项；监管措施决定作出后的公开要求；监管措施决定书的送达程序；当事人对监管措施决定不服的，可 以依法申请行政复议或者依法直接向人民法院提起诉讼；当事人申请适用行政执法当事人承诺制度并完 全履行承诺认可协议的，实施机构不再对其同一行为采取监管措施；在监管措施实施工作中存在失职失 责行为，造成重大损失、严重后果或者恶劣影响的，依规依纪依法严肃追责问责。 （上接1版） 根据《实施办法》，实施监管措施，应当遵循依法、效率、公正原则，应当符合法律、行政法规、中国 证监 ...

Core Viewpoint - The World Federation of Exchanges (WFE) has expressed concerns to the U.S. Securities and Exchange Commission (SEC) regarding the potential issuance of regulatory "exemptions" to cryptocurrency companies for the sale of "tokenized stocks," warning that this could undermine investor protection and market integrity [1] Group 1 - The WFE cautioned that granting exemptions to companies attempting to circumvent long-standing regulatory principles could weaken market protections [1] - The organization emphasized that the SEC should compete on the same rules with cryptocurrency platforms rather than providing them with special exemptions [1]

11月21日晚，多家上市公司及相关责任人因涉嫌信息披露违法违规等问题，披露收到监管部门立案告知 书、行政处罚事先告知书或行政处罚决定书的相关公告。 在市场人士看来，集中披露上述公告彰显了监管部门强化执法震慑，对信息披露违法违规行为的"零容 忍"态度，有助于持续增强投资者信任和信心。 豪尔赛表示，公司将积极配合调查工作，目前各项经营活动正常有序开展，本次立案不会对公司经营和 管理造成重大影响。 因信息披露违法违规 嘉应制药收行政处罚决定书 嘉应制药（002198）11月21日晚公告称，公司于当日收到广东证监局下发的《行政处罚决定书》。 涉嫌信披违法违规 两家公司被证监会立案 聚石化学11月21日晚公告称，公司于当日收到证监会下发的《立案告知书》，因公司涉嫌信息披露违法 违规，证监会决定对公司立案。 聚石化学表示，目前公司各项经营活动和业务均正常开展。立案调查期间，公司将积极配合证监会的相 关工作，并严格按照相关法律法规和监管要求及时履行信息披露义务。 豪尔赛（002963）11月21日晚公告称，公司近日收到证监会下发的《立案告知书》，因涉嫌信息披露违 法违规，证监会对公司进行立案。 智动力实控人及时任高管 收行 ...

Core Viewpoint - The article emphasizes the significance of the 20th Central Committee's Fourth Plenary Session and its implications for China's economic and social development, particularly focusing on the upcoming "15th Five-Year Plan" period and the role of the China Securities Regulatory Commission (CSRC) in implementing these directives [2][3]. Group 1 - The speech by General Secretary Xi Jinping at the plenary session provides a strategic direction for economic and social development over the next five years and beyond, addressing fundamental issues and enhancing the understanding of economic development laws [3]. - The "15th Five-Year Plan" period is identified as a crucial transitional phase that will solidify foundations and drive comprehensive efforts in various sectors, including finance [3]. - The CSRC is tasked with deeply understanding the significance of the "two establishments," enhancing awareness and confidence, and ensuring effective governance in line with the new financial directives [3][4]. Group 2 - The CSRC is required to implement a comprehensive learning and training program to promote the spirit of the plenary session, ensuring that the outcomes of this learning translate into practical results in risk prevention, regulatory strength, and high-quality development in the capital market [4]. - The article highlights the importance of thorough planning and effective communication to ensure that the directives from the plenary session are executed with diligence and precision [4].

Core Viewpoint - The Hebei Securities Regulatory Bureau emphasizes the importance of strong regulation, risk prevention, and promoting high-quality development in building a resilient capital market tailored to the needs of Hebei and Xiong'an New Area [1] Regulatory Approach - The bureau adheres to a strict regulatory philosophy, enhancing the effectiveness and deterrence of on-site supervision to combat various illegal activities [1] - It implements a proactive risk prevention strategy focusing on early identification, warning, exposure, and resolution, particularly in key areas to maintain systemic financial stability [1] Support for Development - The bureau prioritizes serving the Xiong'an New Area by organizing meetings for newly guided enterprises, clarifying regulatory requirements, and addressing capital market concerns [1] - It conducts specialized activities to empower industrial clusters in Hebei, providing professional services for companies seeking to go public [1] - The bureau encourages enterprises to expand direct financing channels through IPOs, refinancing, and bond issuance, while guiding capital elements towards Xiong'an New Area to foster a virtuous cycle of capital and industry development [1]