Zhongtai Securities General Manager Feng Yidong: Suggests that those responsible for financial fraud should repurchase investors' stocks at the price before the incident occurred

This year at the National Two Sessions, Feng Yidong, a member of the National Committee of the Chinese People's Political Consultative Conference and General Manager of Zhongtai Securities, suggested further improving the accountability mechanism for financial fraud in listed companies and strengthening investor protection. Feng Yidong proposed three suggestions: first, to increase the penalties for major shareholders and responsible persons of listed companies involved in financial fraud. For listed companies that commit financial fraud, accountability should be traced back to the relevant responsible persons, referencing the punishment standards for public officials involved in corruption and bribery, and increasing the penalties for responsible major stakeholders such as controlling shareholders, actual controllers, and senior executives. For serious cases that have a severe social impact, punitive fines should be imposed and criminal liability pursued