[The China Securities Regulatory Commission issued two more fines and Li Anda Shanghai Baoyin was fined] Two recent cases were punished, one case involving an intermediary agency violating laws and regulations, and one case involving information disclosure violations. First, Li Anda Accounting Firm failed to perform its due diligence in auditing the 2012 financial statements of Beijing Saidi Media (now Nanhua Biomedicine), and later made retrospective adjustments, turning profits into losses, with losses amounting to 150 million. Second, Shanghai Baoyin Chuangying Investment Management Co., Ltd., as the second largest shareholder of Yinchuan Xinhua Department Store, Shanghai Baoyin Chuangying issued an open letter proposing to convene an extraordinary general meeting of shareholders and jointly establish a mutual fund to acquire insurance companies, etc., involving major matters of listed companies.
On February 26, the China Securities Regulatory Commission held a regular press conference. Spokesperson Deng Ge, the following are the main contents.
The China Securities Regulatory Commission issued two more fines, and Li Anda and Shanghai Baoyin were fined
Recently, two cases were punished, one involving an intermediary agency violating laws and regulations, and one involving information disclosure violating laws and regulations. First, Li Anda Accounting Firm failed to perform its due diligence in auditing the 2012 financial statements of Beijing Saidi Media (now Nanhua Biomedicine), and later made retrospective adjustments, turning profits into losses, with losses amounting to 150 million.
Second, Shanghai Baoyin Chuangying Investment Management Co., Ltd., as the second largest shareholder of Yinchuan Xinhua Department Store, Shanghai Baoyin Chuangying issued an open letter proposing to convene an extraordinary general meeting of shareholders and jointly establish a mutual fund to acquire insurance companies, etc., involving major matters of listed companies.
This is information that may have a significant impact on Xinhua Department Store, and Shanghai Baoyin’s information release behavior constitutes illegal information disclosure. The Ningxia Securities Regulatory Bureau decided to warn and fine Shanghai Baoyin.
China Securities Regulatory Commission prepares administrative licensing service guide
China Securities Regulatory Commission spokesman Deng Ge said on Friday that the China Securities Regulatory Commission has compiled a service guide for administrative licensing matters, which discloses the name of administrative matters, basis for establishment, application conditions, application materials, approval results, consultation channels, as well as supervision and complaint channels, office addresses and hours.
