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

People’s Finance News, March 27 — According to the Discipline Inspection and Supervision Group of the Central Commission for Discipline Inspection and the State Commission of Supervision stationed at the China Securities Regulatory Commission, and the Discipline Inspection and Supervision Commission of Zhejiang Province: with the approval of the Central Commission for Discipline Inspection and the State Commission of Supervision, the Discipline Inspection and Supervision Group stationed at the China Securities Regulatory Commission and the Taizhou Municipal Supervision Commission of Zhejiang Province have filed a case for investigation into the serious violations of duty by Guo Xudong, former chair of the China Securities Regulatory Commission’s Issuance Examination Committee, deputy director of the Issuance Supervision Department, and a first-level inspector.

Investigation found that Guo Xudong disregarded the spirit of the Central Eight-point Regulation, accepted banquets in violation of regulations, and received gifts and money; he abandoned his responsibilities and mission, practiced differential treatment in stock issuance examination and review, and accepted equity; he used his regulatory authority to make advance remarks for companies to list on the market and for refinancing; at the time of leaving office, he deceived the organization, engaged in illegal employment in violation of regulations among regulatory targets, accepted a large amount of money and other property, and made false statements during the organization’s review and verification; he also used the value of his position to accept equity in private equity funds; he illegally accepted money and other property, with the amount being especially large.

Guo Xudong’s conduct has constituted serious violations of duty and he is suspected of taking bribes. Moreover, after the 18th National Congress of the Communist Party of China, he failed to stop and correct himself; his conduct was serious in nature and had a bad impact, and he should be dealt with in a serious manner. Pursuant to the relevant provisions of laws and regulations including the Supervision Law of the People’s Republic of China and the Law of the People’s Republic of China on Administrative and Disciplinary Sanctions for Public Servants, his illegal gains shall be confiscated; his suspected criminal issues shall be transferred to the procuratorial authorities for review and prosecution according to law, and all property involved shall be transferred together.