What should I do if listed companies encounter "administrative penalties"?Answers related to administrative litigation related questions | Optimized business environment

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Listed companies refer to public offering of stocks

And its stock can enter the stock exchange

Stock stock Co., Ltd.

Listed companies in the process of business

There may be problems with violations of laws and regulations

Then be investigated by financial regulators

Or be punished by administrative

How should listed companies deal with this?

... ...

Below, webwood is about the "listed companies" and financial administrative penalties.

Q1

A listed company: What should I do if I encountered a financial regulatory department for investigation?

Answer: Actively cooperate with investigation according to law.

According to Article 170 of the Securities Law of the People's Republic of China, the securities supervision and management institutions of the State Council have the right to conduct on -site inspections of listed companies, enter the investigation and evidence of suspected illegal acts, and inquire about the relevant parties and review and copy relevant information. For those who refuse and hinder the investigation, the securities supervision and management institutions have the right to order to make corrections, impose a fine of 100,000 yuan or less, and shall be punished by public security organs in accordance with the law.

Q2

A listed company: How to state and defense in the process of administrative penalties?

Answer: Actively respond, apply for hearing if necessary.

The listed company can state and defile the content of the pre -notice of administrative penalties. The focus can focus on whether the facts of administrative penalties are sufficient, whether the law applicable is correct, whether the punishment is appropriately defense, and if necessary, you can apply for a hearing. The content of the defense.

Q3

A listed company: How can we suspend the investigation of administrative penalties?

Answer: Correct suspected illegal acts, compensate investors' losses, eliminate damage or adverse effects.

Article 171 of the Securities Law of the People's Republic of China stipulates the commitment system of suspected securities violations. Therefore, to suspend the investigation of administrative penalties, listed companies can promise in writing to correct suspected illegal acts within the time limit of the securities supervision and management agency of the State Council, compensate the losses of relevant investors, and eliminate damage or adverse effects. The financial regulatory authorities may decide to suspend the investigation. If the listed company actually fulfills the promise content, the financial regulatory authorities can also decide to terminate the investigation.

Q4

A listed company: After the administrative penalty decision is made, what should I do if the administrative penalty decision does not accept it?

Answer: You can apply for administrative reconsideration or directly file an administrative lawsuit.

Administrative reconsideration, as an important legal system for administrative management to exercise relief rights, is to correct the specific administrative acts made by administrative subjects to protect the legitimate rights and interests of administrative management of the counterparts. Therefore, if a listed company is dissatisfied with the administrative penalty decision, it may apply for administrative reconsideration to the reconsideration authority within 60 days of receiving the administrative penalty decision.

Q5

A listed company: What should I do if the administrative reconsideration decision is still not convinced?

Answer: A administrative lawsuit can be filed.

The "Administrative Reconsideration Law of the People's Republic of China" stipulates that if the administrative reconsideration decision is not convinced, administrative lawsuits may be filed with the people's court. Therefore, if a listed company still does not accept the administrative reconsideration decision, it shall file an administrative lawsuit to the people's court with jurisdiction within 15 days of receiving administrative reconsideration decisions.

Q6

A listed company: If the administrative penalty of securities supervision and management agencies is encountered, and the administrative reconsideration agency has maintained the administrative penalty decision after applying for administrative reconsideration. Which court should we file an administrative lawsuit?

Answer: If the administrative penalty decision is made by the police of the Securities Regulatory Commission, the Securities Regulatory Commission made an administrative reconsideration decision to maintain the administrative penalty decision, then the listed company can choose to send an administrative lawsuit at the grass -roots people's court where the institution is located or where the CSRC is located. If the administrative penalty decision and administrative reconsideration decision are made by the CSRC themselves. Since the CSRC is located in Beijing, the listed company should file an administrative lawsuit with the Beijing Financial Court.

Q7

A listed company: Three months ago, our company was investigated by the Securities Regulatory Commission for information disclosure of illegal information. Afterwards, our company took the initiative to confess the illegal acts that the CSRC has not yet mastered. Can this give it light or reduce the punishment?

Answer: Chinese law stipulates the situation that should be light or reduced from punishment.

Article 32 of the "Administrative Penalty Law of the People's Republic of China" stipulates that the parties have one of the following circumstances and should be lighter or reduced administrative penalties: (1) to actively eliminate or reduce the consequences of the harm of illegal acts; (2) Those who deceive the implementation of illegal acts; (3) actively confessing illegal acts that the administrative organs have not yet mastered; Punishment.

Q8

A listed company: If the information disclosed by the information disclosure is false records, misleading statements, or major omissions, what legal liabilities should be assumed?

Answer: Order to correct, warn and fine.

According to the provisions of Article 197, paragraph 2 of the Securities Law of the People's Republic of China, the information disclosure obligations are ordered to make corrections, give warnings, and impose a fine of 1 million yuan or less; The supervisors and other direct responsible persons warned and imposed a fine of more than 500,000 yuan to 5 million yuan.

Regarding the illegal acts that listed companies have appeared in the process of stock issuance and continuing operations, the "Securities Law of the People's Republic of China" and the "Administrative Penalty Law of the People's Republic of China" stipulate the corresponding investigation and punishment procedures.Damage and adverse effects of illegal acts.At the same time, listed companies have the right to state and debate in accordance with the law, state their claims to the financial regulatory authorities, provide corresponding evidence, and have the right to apply for a hearing in accordance with the law.If the administrative punishment decision made by the financial regulatory authorities is not convinced, it can also safeguard its legitimate rights and interests through administrative reconsideration and administrative litigation procedures.

Supply | Beijing Financial Court

Edit | Zhao Nan Yao Rihui

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