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Securities Regulatory Commission: Further Promotin
发布时间:2019-7-12 16:02:31浏览次数: 310
The Securities Regulatory Commission (SFC) today briefed on the recent regulatory measures taken against the initial issuing enterprises. In recent days, the SFC found in the daily audit and on-site inspection of the initial application enterprises that there are some problems in some enterprises, such as insufficient accounting of related costs, inadequate provision for impairment of related assets, defects in the basic work of internal control, and inaccurate disclosure of related party funds.
The relevant person in charge of the SFC said that the relevant intermediaries had not found or paid enough attention to the above problems, the verification work was not prudent, due diligence investigation work was flawed, and the implementation of important verification procedures was not in place. In order to improve the market restraint mechanism, consolidate the responsibilities of intermediaries, increase the cost of violation of the law, and strengthen the supervision and enforcement of the law, the SFC has taken the measures of issuing warning letters to six first-time enterprises with relevant problems according to the information verified at present. It has also taken the measures of issuing warning letters to eight sponsoring agencies and four accountants with practicing quality problems. Departments and four law firms shall initiate relevant regulatory procedures according to the seriousness of the circumstances. Other enterprises will take relevant measures according to the verification of the problem.
According to reports, the SFC will adhere to the normalization of new share issuance, further improve market transparency and clarify market expectations. At the same time, in accordance with the problem-oriented and lottery method, 44 enterprises have been scheduled to start on-site inspection recently. In order to further shorten the audit cycle and improve the audit efficiency, we will continue to arrange spot checks, drawing lots and on-site inspection according to the acceptance situation and audit progress. Through on-site inspection and daily supervision, we can further promote the standardized operation of first-time applicant enterprises, improve the quality of information disclosure, urge intermediaries to improve the level of practice, create a good market ecology, improve the quality of listed companies from the source, and constantly enhance the ability of capital market to serve the real economy.