Recently, Amethystum Storage issued an announcement saying that the company's actual controller and the actual controller acting in concert were suspected of fraudulent issuance and had been arrested by the local procuratorate.
Due to fraudulent issuance and illegal information disclosure, Amethystum Storage has been forced to delist. Even if the company is delisted, it will not escape accountability, demonstrating the "zero tolerance" attitude of the regulatory authorities towards fraud in the capital market, and reflecting the determination of the regulatory authorities to clear out the market enterprises that do not meet the issuance conditions.
This does not meet the issuance requirements, but through financial fraud, whitewashing performance and other bad means to defraud the issuance qualifications, in order to achieve the purpose of listing and financing, this kind of deliberate fraud from the source, in the A** field repeatedly prohibited, profit driven is the key. Compared with the financing amount of hundreds of millions or billions of yuan after successful listing, the cost of counterfeiting is low, and the luck psychology that will not be easily discovered, even if the regulatory authorities repeatedly declare that fraudulent issuance is not allowed, some companies still take risks.
A healthy capital market should not allow the existence of fraudulent issuance. The capital market is originally a place for investors to find valuable investment targets and provide funds for high-quality listed companies, and if the packaged "good companies" are allowed to pass through the customs in a fool's way, the market may evolve into a place for fraudsters to make money, and become a casino for speculators to speculate in disorder, which not only infringes on the interests of investors, but also disrupts the order of the operation of the capital market, and even endangers the safety and stability of the entire financial market.
In order to achieve "zero occurrence" of fraudulent issuance, it is necessary for companies to make a clear account: once the legal "red line" is crossed, the cost will be much higher than the benefits obtained from fraud. In recent years, the regulatory authorities have maintained a high-pressure posture against fraudulent issuance, and have continuously increased the illegal cost of fraudulent issuance. The 11th Amendment to the Criminal Law, which came into effect on 1 March 2021, increases the maximum sentence for fraudulent issuance from 5 years to 15 years in prison. The market expects that in the future, the crackdown on fraudulent issuance will be further intensified, so as to enhance the deterrent effect of fraudsters and eliminate the root causes.
To prevent fraudulent issuance, it is necessary to continuously improve the level of supervision. Judging from the disclosure of the regulatory authorities, the fraudulent issuance methods are often complex and hidden, and there are many types of entities involved, which requires strengthening daily supervision and strengthening all-round accountability. On the one hand, it is necessary to investigate and deal with counterfeiting in a timely manner through the normalized use of audit inquiries, on-site supervision and other means, so that it is difficult for violators to move an inch;On the other hand, it is necessary to continue to improve the three-dimensional accountability system of administrative law enforcement, civil compensation, and criminal punishment, and hold every illegal entity in the chain of fraudulent issuance accountable, and never tolerate any violations of laws and regulations.
Fake can never be true, and in the context of zero tolerance, no matter how clever the fraud is, it will eventually be torn off the "painted skin" of hypocrisy. Enterprises to be listed should deeply learn the lessons of amethystum storage, abide by the rules, take the right path, and break through the capital market with "real skills". As the gatekeeper of the capital market, intermediaries should always tighten the strings of diligence and responsibility, do their best to screen out high-quality companies, keep garbage enterprises out of the door, keep the bottom line of integrity in the capital market, and control the quality of the capital.
Real information environment, high-quality listed companies, fair trading opportunities ......To build a standardized, transparent, open, dynamic and resilient capital market, all elements are indispensable. Only in this way can we truly enhance market activity, boost investor confidence, and then better play the investment and financing function of the capital market and serve the high-quality development of the real economy. (Author: Li Hualin **Economy**).
*:Economy**.