Wu Guofang, former Deputy Director of the Legal Department of the China Securities Regulatory Commission, has been expelled from the party and dismissed from his position.

According to the website of the Central Commission for Discipline Inspection of the Communist Party of China and the National Supervisory Commission, and the news from the disciplinary inspection and supervision team of the Central Commission for Discipline Inspection of the Communist Party of China and the National Supervisory Commission stationed at the China Securities Regulatory Commission, as well as the Jiangsu Provincial Commission for Discipline Inspection and Supervision, recently, with the approval of the Central Commission for Discipline Inspection of the Communist Party of China and the National Supervisory Commission, disciplinary review and supervision investigation were conducted by the disciplinary inspection and supervision team of the Central Commission for Discipline Inspection of the Communist Party of China and the National Supervisory Commission stationed at the China Securities Regulatory Commission, and the Jiangsu Provincial Commission for Discipline Inspection and Supervision, on the serious violations of discipline and law by Wu Guofang, former Deputy Director of the Legal Department of the China Securities Regulatory Commission. After investigation, it was found that Wu Guofang had lost his ideal and faith, and betrayed his original intentions and missions. He had abused his public power for personal gain, seriously damaging the image of securities regulation. After leaving the China Securities Regulatory Commission, he continued to seek so-called "investment opportunities" by exploiting the convenience of his previous positions, which is a typical case of corruption in the political-business "revolving door". He was disloyal and dishonest to the Party, colluded with multiple individuals, deliberately obstructed organizational inspections; violated the spirit of the eight-point central regulations, illegally accepted gifts, gift cards, and banquets; failed to report personal matters truthfully as required by the organization; crossed the line of integrity, illegally held shares of non-listed companies, and engaged in illegal trading of stocks using other people's accounts. He illegally received large amounts of money under the guise of "investing" in companies planning to go public. Wu Guofang seriously violated the Party's political discipline, the spirit of the eight-point central regulations, organizational discipline, and integrity discipline. His actions constitute serious violations of duty-related laws and suspected bribery crimes. He did not reform or stop his actions even after the 18th and 19th National Congress of the Communist Party of China, his actions were serious in nature and had a negative impact, therefore, he should be severely dealt with. In accordance with the relevant provisions of the "Regulations on Disciplinary Actions of the Communist Party of China", the "Supervision Law of the People's Republic of China", and the "Administrative Punishment Law for Public Officials of the People's Republic of China", after research by the disciplinary inspection and supervision team of the Central Commission for Discipline Inspection of the Communist Party of China and the National Supervisory Commission stationed at the China Securities Regulatory Commission, it was decided to transfer the disciplinary violations of Wu Guofang to his party committee for handling, and to impose on him the punishment of expulsion from the Party and dismissal from public office; his ill-gotten gains would be confiscated. After research by the Jiangsu Provincial Commission for Discipline Inspection and Supervision, it was decided to transfer Wu Guofang's suspected criminal problems to the procuratorial organ for legal examination and prosecution, and all the items involved would be transferred.