Security Times: Three-dimensional accountability breaks the ecosystem of financial fraud

According to industry insiders, while cracking down on issuers and listed companies for illegal information disclosure, the China Securities Regulatory Commission has always closely monitored the "key minority" including actual controllers, controlling shareholders, and directors and supervisors, to prevent intermediaries such as sponsors, auditors, and lawyers from failing in their gatekeeping duties. By strengthening the responsibility of the above-mentioned parties and enhancing accountability throughout the entire chain, efforts are being made to fully support the stable and healthy development of the capital market. Looking at the multiple major cases handled in recent years, it is evident that civil compensation is an indispensable key element for illegal activities that seriously harm investors' interests, alongside administrative penalties and criminal accountability, forming a multidimensional system of punishment and restraint.