Zhangzidao was held criminally responsible, a necessary move for the rule of law in the capital market

On September 11, the China Securities Regulatory Commission issued an announcement stating that, in accordance with the "Regulations on the Transfer of Suspected Criminal Cases by Administrative Law Enforcement Organs" (State Council Order No.

From the sudden announcement of Zhangzidao in 2014 that scallops were "off the road", resulting in a huge loss of 763 million in the third quarter of that year, the scallops on Zhangzidao "missed" 4 times in less than 6 years.

Throughout the history of fraud in Zhangzidao, its clumsy tactics and courage to deceive investors can be described as unscrupulous in infringing upon investors' rights and interests.

This time, Zhangzidao was chased for criminal responsibility.

Including Zhangzidao, the China Securities Regulatory Commission transferred 10 suspected cases of securities crimes such as financial fraud of listed companies to the public security organs in accordance with the law, and also issued a strong warning signal to the outside world: trying to pass the speculation game of "small (punish) and broad (revenue)" The countdown has entered

With the increasing normalization of multi-departmental joint law enforcement, it is helpful to solve the pain points of limited effectiveness of single administrative supervision in the past.

The Chinese stock market is undergoing a series of major reforms, including the creation of the Science and Technology Innovation Board, the launch of the registration system, and the listing of new shares under the GEM registration system

This time, Zhangzidao's criminal punishment not only provided comfort to the injured investors, it was also a necessary move to maintain the rule of law in the capital market