Editor's note: The State Council's "Several Opinions on Strengthening Supervision and Preventing Risks and Promoting the High-quality Development of the Capital Market" pointed out that the joint crackdown on securities and futures violations and crimes should be strengthened. Complete mechanisms such as for the discovery of clues and rewards for reporting. Improve the judicial system and mechanism for securities law enforcement, and improve the efficiency of the connection between administrative and criminal cases. Strengthen efficient coordination between administrative supervision, administrative adjudication, and administrative procuratorates. Increase the force of three-dimensional accountability in administrative, civil, and criminal cases, and strictly investigate and deal with all kinds of violations of laws and regulations in accordance with the law.
Recently, China Nuclear Titanium Dioxide, CITIC Securities, and Haitong Securities have successively announced that they have received prior notices of administrative penalties from the China Securities Regulatory Commission.
The China Securities Regulatory Commission (CSRC) believes that CITIC CSI formulated an arbitrage plan, built a trading structure, and provided leveraged financial support for Wang Zelong and Hong Haowei's transfer of shares in violation of restrictive regulations; CITIC Securities knew that the purpose of securities lending was to provide securities lending services to the customer, and cooperated with them to provide securities lending services; Haitong Securities subscribed for the non-public issuance of shares of CNNC Titanium Dioxide in accordance with the quotation instructions of CITIC CSI in its own name, which objectively helped CITIC CSI and its customers obtain stock returns, so that the private placement arbitrage behavior could be realized.
In the case of suspected transfer of shares in violation of restrictive provisions, the CSRC intends to impose a total fine of 235 million yuan on all participants.
China Nuclear Titanium Dioxide: The actual controller received a prior notice of punishment from the Securities Regulatory Commission
Recently, China Nuclear Titanium Dioxide announced that Wang Zelong, the actual controller of the company, received the "Prior Notice of Administrative Punishment" issued by the China Securities Regulatory Commission.
Previously, Wang Zelong was investigated by the China Securities Regulatory Commission on suspicion of violating restrictive regulations by transferring CNNC's non-public issuance of shares in 2023 and illegal information disclosure.
According to the announcement, Wang Zelong, as the actual controller of China Nuclear Titanium Dioxide, concealed his actual participation in the non-public offering through a series of trading arrangements during the non-public issuance of shares by China Nuclear Titanium Dioxide in 2023, resulting in false records in the report on the issuance of A shares related to the non-public issuance of A shares by China Nuclear Titanium Dioxide, in violation of relevant regulations, and the CSRC will intend to order Wang Zelong to make corrections, give a warning, and impose a fine.
According to public information, China Nuclear Titanium Dioxide landed on the Shenzhen Stock Exchange in 2007, and its main business is the research and development, production and sales of rutile titanium dioxide.
CITIC Securities and Haitong Securities were fined
CITIC Securities and Haitong Securities also announced that they had received the "Prior Notice of Administrative Punishment" issued by the China Securities Regulatory Commission.
According to the announcement, CITIC CSI did not make any actual profits, with the income from CITIC Securities' securities lending business being RMB1,910,680.83 and Haitong Securities' income from income swap business being RMB789,445.21.
The SFC intends to order CITIC China Securities Capital Management Co., Ltd., CITIC Securities Co., Ltd. and Haitong Securities Co., Ltd. to make corrections, give warnings and impose fines.
Regarding the problems and penalties identified in the above-mentioned "Advance Notice of Administrative Punishment", CITIC Securities said that the company and its grandson company CITIC Securities Capital sincerely accept the punishment, and will deeply reflect on it, conscientiously implement rectification, further improve ideological understanding, actively implement regulatory requirements, draw inferences from one another, and comprehensively and systematically investigate the shortcomings of various business management.
Haitong Securities said that the company sincerely accepts the punishment, and will deeply reflect, learn lessons, conscientiously implement various rectification requirements, further optimize the compliance internal control mechanism, continuously improve the awareness and level of standardized operation, insist on drawing inferences from one example, comply with laws and regulations, and steadily and prudently promote the company's various businesses. The company will fulfill its information disclosure obligations in strict accordance with the requirements of laws and regulations, and the company's current business situation is normal.
If the risk control and compliance teams of Haitong Securities and CITIC Securities are punished for private placement violations, are the risk control and compliance teams of Haitong Securities and CITIC Securities diligent and conscientious, and are the company's internal controls compliant?
(Article Serial Number: 1783031039443210240)
Disclaimer: This article does not constitute any investment advice to anyone. Intellectual Property Rights Statement: The intellectual property rights of Bread Finance works are owned by Shanghai Miaotan Network Technology Co., Ltd.