This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Xintai Electric faces penalty and delisting over IPO fraud

( June 20, 2016, 07:06 GMT | Official Statement) -- MLex Summary: In an advance notice of penalties from the China Securities Regulatory Commission, Dandong Xintai Electric was found guilty of providing fake financial statements in its initial public offering and releasing false information in regular reports. The company will be fined and personnel held responsible will be banned from trading on the stock market, according to the notice. The Shenzhen Stock Exchange will delist the company from the ChiNext, a NASDAQ-style board of the bourse, once the commission issues a final penalty. Also, intermediaries, including an accounting firm, a sponsor and a law firm involved in the IPO fraud, are under investigation over failures of due diligence, the commission said.The statement follows:...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Related Sections