Reported about 1 year ago
China's securities regulator, the CSRC, pledges to clamp down harder on financial fraud with harsher punishment against lawbreakers to restore confidence in the struggling stock markets. They have published guidelines against capital markets cheating and are investigating PricewaterhouseCoopers (PwC) over China Evergrande Group's cheating. The CSRC aims to target fraudsters, punish accomplices, and enhance enforcement efforts by revising laws for stricter penalties, such as fines up to 10 million yuan for dishonest disclosures and up to 10 years of imprisonment for violators of disclosure rules.
Source: YAHOO