Latest policy for curbing financial frauds on the capital market

After the stock market closed on Friday, the General Office of the State Council forwarded a document on punishing and preventing financial frauds on the capital market. The document put forth intensifying all-around full-coverage measures for accountability in financial reporting by listed companies. It means that the culprit of financial fraud and those assisting in it will face harsher administrative punishments, including maximum punitive fines. There is also explicit legal foundation to pursue criminal liabilities for such frauds. The moves will enable efforts to take investors' money back from fraudsters. Financial fraud by some individual companies pose one of the reasons for volatile A-shares. Only by rooting out the causes, can the stock market run stably.