Guo Xudong, the former Chairman of the Issuance Examination Committee of the China Securities Regulatory Commission, has been transferred for review and prosecution.

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According to the Central Commission for Discipline Inspection and the National Supervisory Commission stationed at the China Securities Regulatory Commission and the Zhejiang Provincial Commission for Discipline Inspection and Supervision: Recently, with the approval of the Central Commission for Discipline Inspection and the National Supervisory Commission, the discipline inspection and supervision team stationed at the China Securities Regulatory Commission and the supervision commission of Taizhou City, Zhejiang Province, launched an investigation into the serious violations of duty by Guo Xudong, former chairman of the Issuance Examination Committee of the China Securities Regulatory Commission, deputy director of the Issuance Supervision Department, and first-level inspector.

Investigations revealed that Guo Xudong ignored the spirit of the Central Eight Regulations, violated rules by accepting banquets and receiving gifts and cash; abandoned his responsibilities, treated stock issuance reviews differently, and accepted equity; used his regulatory power to facilitate companies’ listings and refinancing; deceived the organization upon leaving, engaged in illegal activities with regulated entities, received large sums of money, and provided false statements during organizational inspections; leveraged his position’s value to receive equity in private equity funds; illegally accepted property of particularly large amounts.

Guo Xudong’s actions constitute serious violations of duty and suspected bribery crimes, and he has not restrained or ceased his behavior after the 18th National Congress of the Communist Party, with serious nature and severe impact, warranting serious handling. In accordance with the “Supervision Law of the People’s Republic of China” and the “Administrative Punishments for Public Officials Law of the People’s Republic of China” and other relevant regulations, his illegal gains will be confiscated; his suspected criminal issues will be transferred to the procuratorial organs for legal review and prosecution, and the involved property will be transferred as well.

Source丨Website of the Central Commission for Discipline Inspection and National Supervisory Commission

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Editor: Song Yafang