vrblockchaingame| Supervision strikes again! CITIC Securities and Dongguan Securities were warned for continued supervision of violations in the process of science and technology

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Interface News reporter | Liu Chenguang

On May 10, Guangdong Securities Regulatory Bureau issued warning letters to CITIC Securities and Dongguan Securities. The fines of the two brokerages were related to irregularities in the continuous supervision of Guangdong Quanwei Technology (Rights Protection) Co., Ltd. (hereinafter referred to as Quan Science and Technology).

For CITIC Securities, the Guangdong Securities Regulatory Bureau pointed out that after investigation, CITIC Securities, as a continuous supervision agency for the initial public offering of shares in Quanwei Technology, there are the following violations in the process of continuous supervision: first, between customers and suppliers of p-xylene trading business.VrblockchaingameThe correlation verification of the relationship is insufficient. Second, the verification of the authenticity of p-xylene trade business is insufficient. Third, the examination of p-xylene business documents did not pay attention to the obvious difference between the shipping companies corresponding to the transport contract and the cabin measurement report. Fourth, the examination of p-xylene business documents did not pay attention to the obvious abnormality in the port of loading stipulated in the sales contract and charter party.

The above actions of CITIC Securities violate the provisions of item 6 of Article 28 of the measures for the Administration of Securities issuance and listing sponsor Business (Securities Regulatory Commission order No. 170). As sponsor representatives, Ling Peng and Pu Ruihang bear the main responsibility for the above violations. According to the provisions of Article 65 of the measures for the Administration of Securities issuance and listing sponsor Business (CSRC order No. 170), the Guangdong Securities Regulatory Bureau has taken administrative supervision measures to issue warning letters to them.

Dongguan Securities, as a sponsor, was also punished. Guangdong Securities Regulatory Bureau pointed out that Dongguan Securities, as a sponsor for the initial public offering of Quanwei Technology, has committed the following violations in the process of continuous supervision: first, it has not carefully verified the authenticity of large capital transactions of listed companies. Second, failed to complete the 2019 on-site inspection report as required.

The above actions of Dongguan Securities violate the provisions of item 6 of Article 31 of the measures for the Administration of recommendation Business of Securities issuance and listing (CSRC order No. 137). As representatives of sponsors, Yao Genfa and Yang Na bear the main responsibility for the above violations. In accordance with the provisions of Article 62 of the measures for the Administration of Securities issuance and listing sponsor Business (CSRC order No. 137), the Guangdong Securities Regulatory Bureau decided to take administrative supervision measures to issue warning letters to them.

In fact, recently, a number of brokerages have been fined for supervision problems.

On May 6, Guangdong Securities Regulatory Bureau issued a warning letter to Guoxin Securities. As an initial public sponsor of Guangdong Opte Technology Co., Ltd., Guoxin Securities has relevant violations in the process of continuous supervision. Including failing to timely urge the company to implement the review and disclosure procedures of the fund-raising plan, failing to diligently and conscientiously find that the company has paid employees' salaries in excess of the fund-raising plan, and failing to supervise the company to carry out the review and disclosure procedures as required.

On April 30, the Guangdong Securities Regulatory Bureau issued four regulatory fines for securities firms and sponsors. Huaying Securities, as a sponsor agency for the public issuance of convertible corporate bonds in 2020, there are some problems, such as failure to formulate a continuous supervision work plan for on-site inspection, imperfect internal quality control, failure to prudently verify the authenticity of the extra large amount of capital transactions, and failure to effectively identify the related transactions. According to the relevant regulations, the Guangdong Securities Regulatory Bureau decided to take administrative supervision measures to issue warning letters to the relevant responsible persons.

On April 26, the CSRC conducted a special survey on implementing the new "National Nine articles" and promoting the development of new quality productive forces. Supervision requires sponsor agencies, accounting firms, law firms and other intermediary agencies to earnestly perform their duties as "gatekeepers", constantly improve the quality of practice, and strengthen the construction of industry culture. We should persist in correct innovation, enhance the ability of professional services, and play a greater role in promoting the formation of innovative capital and supporting the development of new-quality productive forces.

On March 15, the CSRC issued four policy documents, including the opinions on strengthening the Supervision of listed companies (for trial implementation), highlighting the strong foundation and strict supervision.