(Bloomberg) – China will increase penalties for fraudulent issuance of securities and other capital market violations starting next year.
The maximum jail term will be increased from five to 15 years, under an amendment to the criminal laws approved at a meeting of the National People’s Congress standing committee on Saturday, the Chinese securities regulator said in a statement. communicated. The change will come into effect on March 1.
For disclosing false information, the maximum sentence will be increased from three to 10 years, and a fine of 200,000 yuan ($ 30,572) will be removed, the China Securities Regulatory Commission said.
China will also impose a jail term of up to 10 years on lawyers and accountants for fraud in issuing securities and large transactions, he said.
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