According to the statistics of Bread Finance on the date of the penalty announcement, in the first quarter of 2024, Guotai Junan received 3 fines issued by the financial regulatory authorities.
In January 2024, the Anhui Securities Regulatory Bureau disclosed the "Decision on Issuing Warning Letters to Guotai Junan Securities Co., Ltd., Li Yi and Cai Weicheng". According to the disclosed information, Guotai Junan, Li Yi and Cai Weicheng failed to be diligent and conscientious in the process of sponsoring the initial public offering and listing of Chuzhou Dolly Automobile Technology Co., Ltd. (hereinafter referred to as the "Issuer"), resulting in problems such as insufficient penetrating verification procedures for the capital flow of the issuer's directors, supervisors and senior executives, and inconsistent verification conclusions with the actual situation.
A total of 6 fines were received in 2023
According to the statistics of the information notified by the regulatory authorities, in 2023, the financial regulatory authorities will issue 6 fines to Guotai Junan, of which 1 fine will be confiscated with an amount of 950,000 yuan.
In November 2023, the Shenzhen Stock Exchange issued a regulatory letter to Guotai Junan. According to the regulatory letter, "on September 13, 2022, the firm accepted the application for the initial public offering of shares and listing on the GEM recommended by Guotai Junan for Kedu Electric (hereinafter referred to as the issuer). It was found that Guotai Junan, as the sponsor, and Xu Wei and Hong Huazhong, as the sponsor representatives, had the following violations in the process of sponsoring the issuer's initial listing: (1) failing to fully verify and urge the issuer to rectify the irregularities in financial internal control in a timely manner; (2) failing to verify the compliance of contract management for construction in progress; (3) failing to verify the issuer's R&D expenses; and (4) failing to properly verify the issuer's labor outsourcing norms".
According to the January 2023 announcement, Guotai Junan was fined 950,000 yuan by the Shanghai branch of the People's Bank of China for "failing to perform customer identification obligations and submitting suspicious transaction reports as required".
(Article Serial Number: 1780875585929744384)
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