Guo Xudong, former Chairman of the Issuance Examination Committee of the China Securities Regulatory Commission, is transferred to the procuratorial authorities for review and prosecution on suspicion of job-related crimes.

According to the Central Commission for Discipline Inspection and the National Supervisory Commission’s Discipline Inspection Team stationed at the China Securities Regulatory Commission and the Zhejiang Provincial Commission for Discipline Inspection and Supervision, on March 27, it was reported that recently, with the approval of the Central Commission for Discipline Inspection and the National Supervisory Commission, an investigation has been initiated against Guo Xudong, the former chairman of the Issuance Examination Committee of the China Securities Regulatory Commission, the deputy director of the Issuance Supervision Department, and a first-level inspector, for serious job-related violations.

The investigation revealed that Guo Xudong ignored the spirit of the Eight Regulations set by the Central Committee, improperly accepted banquets and received gifts and money; he abandoned his duties and engaged in favoritism during the stock issuance review process, accepting equity; he used his regulatory power to facilitate companies’ listings and refinancing; when leaving his position, he deceived the organization, engaged in violations with regulated subjects, accepted huge sums of money, and provided false explanations during organizational investigations; he leveraged his official position to accept equity from private equity funds; and he illegally accepted property of particularly large amounts.

Guo Xudong’s actions constitute serious job-related violations and suspected bribery, and he did not restrain himself after the 18th National Congress of the Communist Party, with serious nature and adverse effects, warranting severe punishment. In accordance with the “Supervision Law of the People’s Republic of China,” the “Administrative Punishments Law for Public Officials of the People’s Republic of China,” and other relevant regulations, his illegal gains will be confiscated; the criminal issues he is suspected of will be transferred to the procuratorial organs for legal examination and prosecution, and the involved property will be transferred together.

(Edited by: Wang Zhiqiang HF013)

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