On the 29th, the CSRC website published nine regulatory measures to take regulatory measures against acts of failure to exercise due diligence, involving many securities companies such as Wanlian securities, China International Capital Corporation Limited(601995) , Sinolink Securities Co.Ltd(600109) . Relevant securities companies and responsible personnel were taken regulatory measures such as regulatory conversation, issuing warning letters and ordering correction.
Source: website of China Securities Regulatory Commission
The CSRC pointed out that the parties should take warning, seriously find and rectify problems, establish, improve and strictly implement the internal control system, workflow and operation specifications of investment banking business, be honest, trustworthy, diligent and conscientious, and effectively improve the quality of investment banking business. At the same time, the responsible personnel shall be internally accountable in strict accordance with the internal accountability system.
the sponsor Lenovo Group failed to be diligent
China International Capital Corporation Limited(601995) and supervision conversation with relevant responsible persons
After investigation, the CSRC found that China International Capital Corporation Limited(601995) and Wang Sheng, sun Lei, Zhao Peilin, Xingke and Xie Jingxin failed to be diligent and responsible in recommending Lenovo Group Co., Ltd. to apply for listing on the science and innovation board, performed sufficient verification procedures for the identification of the issuer’s science and innovation attribute, and mainly relied on the explanatory documents provided by the issuer to draw concluding opinions, The relevant procedures and evidence obtained are insufficient to support the disclosure, and the issuer’s scientific innovation attribute is not evaluated completely and accurately.
The CSRC pointed out that the above acts violated the provisions of Article 5 of the measures for the administration of securities issuance and listing recommendation business (CSRC Order No. 170). In accordance with Article 65 of the administrative measures, it is decided to take supervision and management measures for China International Capital Corporation Limited(601995) and the above-mentioned individuals.
several securities companies and sponsors have been taken regulatory measures
The CSRC found that Wanlian securities, as the sponsor of Hulk’s initial public offering and listing, did not exercise due diligence, did not fully verify the issuer’s monetary funds, related parties and related transactions, failed to find a large number of changes to the bank flow, incomplete disclosure of related parties and related transactions, defects in accounting basis and internal control, etc. The CSRC has decided to take administrative supervision and management measures for its supervision. As the person in charge of recommendation business at that time, Luo Qincheng was responsible for leading the above violations. The CSRC has decided to take administrative supervision and management measures for its supervision.
Sinolink Securities Co.Ltd(600109) and Zou Liping and Wang Jun, as sponsors and sponsors, failed to exercise due diligence in the process of initial public offering and listing of Rixing biology, and the verification of the issuer’s sales collection, internal control and other matters was insufficient. The CSRC decides to take administrative supervision and management measures to issue warning letters.
In addition, Wei Jianxin and Wang Gang were not diligent and responsible in the process of serving as the sponsor representatives of Yangzi floor’s initial public offering and listing, and the verification of the issuer’s internal control, project income and other matters was insufficient. The CSRC took administrative supervision and management measures of issuing a warning letter.
Wu Shuzhen and Wu Yuqiao, in the process of serving as the sponsor representative of yaxun network’s initial public offering and listing, failed to be diligent and responsible, and the verification of the issuer’s sales collection and other matters was insufficient, so the CSRC took the measure of issuing a warning letter.
Feng Song and Li Qiang were not diligent and responsible in the process of serving as the sponsor representative of Jianpai agrochemical’s initial public offering and listing, and the verification of the issuer’s notes receivable and other matters was not sufficient. They were taken administrative supervision and management measures of issuing warning letters.
In the process of serving as the sponsor representative of Huaguan new material’s initial public offering and listing, Li only and Zhang Zhengping failed to be diligent and responsible, and the verification of the issuer’s customer type, period expenses and other matters was insufficient, so they were taken to issue a warning letter.
(China Securities Journal)
