In recent years, the fraudulent issuance of A-shares has been repeatedly prohibited, which has aroused widespread concern from all walks of life. This paper aims to explore this issue from the perspective of laws and regulations, analyze the shortcomings of existing regulations, and put forward suggestions for improvement.
1. Why is counterfeit issuance repeatedly banned?
The main reasons for the repeated prohibition of fraudulent issuance in the A-share market are as follows:
(1) Low cost of violations: Compared with the high profits brought by counterfeit issuance, the current laws and regulations impose relatively light penalties on counterfeiters, and it is difficult to play an effective deterrent effect.
(2) Difficult supervision: With the development of the financial market, various financial products and tools have emerged one after another, bringing new challenges to supervision. It is difficult for regulatory authorities to detect and prevent fraudulent issuance in a timely manner.
(3) Irregular corporate governance: The internal governance structure of some listed companies is not perfect, which can easily lead to the occurrence of fraudulent issuance.
2. What laws and regulations are required in the financial market?
In order to curb counterfeit issuance and improve the construction of laws and regulations, we can start from the following aspects:
(1) Increase the cost of violations: Increase the severity of penalties, increase the legal cost of fraudulent issuance, and severely sanction issuers, intermediaries and relevant responsible persons involved in counterfeiting.
(2) Strengthen supervision: improve the regulatory system, innovate regulatory means, improve regulatory efficiency, and effectively prevent and combat counterfeit issuance.
(3) Improve corporate governance: strengthen the supervision of listed companies, improve the internal governance structure of companies, improve the quality of information disclosure, and reduce the possibility of fraudulent issuance.
(4) Strengthen investor protection: strengthen investor education, improve investor protection system, improve investors' awareness and ability to protect themselves, and form a good market environment.
Fraudulent issuance not only harms the interests of investors, but also affects the stability and development of the financial market. Improving laws and regulations, increasing the cost of violations, strengthening supervision, improving corporate governance and raising investor protection awareness are the keys to curbing fraudulent issuance. The joint efforts of all parties can promote the healthy development of the financial market.