On December 25, the Guangdong Securities Regulatory Bureau disclosed the written decision on administrative supervision measures issued by Guangdong Chinese Law firm, Zhang Xin and Liu Pin.
According to the measures for on-the-spot Inspection of listed companies (Securities Regulatory Commission notice (2010) No. 12) and the measures for the Administration of Law firms engaging in Securities legal Business (Securities Regulatory Commission order No. 41), Guangdong Securities Regulatory Bureau conducted an on-site inspection of Guangdong Xinhongze Packaging Co., Ltd. (hereinafter referred to as Xinhongze or the company). In addition, an extended inspection was conducted on the securities legal business related to Xinhongze engaged in by Guangdong Huashang Law firm (hereinafter referred to as Huashang Law firm). After investigation, Chinese law firms have the following problems in the practice of securities legal business:
On July 29, 2020, New Hongze held the third interim shareholders' meeting in 2020. On the same day, the Chinese business law firm issued a "legal opinion", saying that the firm accepted the entrustment of Xin Hongze and assigned lawyer Zhang Xin and Liu Ping to attend the company's third interim shareholders' meeting in 2020. The "legal opinion" was signed by Zhang Xin and Liu Pin and sealed by the Chinese business law firm. After investigation, Zhang Xin and Liu Pin, two lawyers did not attend the shareholders' meeting, attended the shareholders' meeting of the Department of China Commercial Law firm another lawyer.
The relevant contents of the legal opinion issued by Huashang Law firm are not in line with the reality, which violates the relevant provisions such as Article 3 and Article 14 of the measures for the Administration of Securities legal Business of Law firms. As the signing lawyers of the above-mentioned legal business, Zhang Xin and Liu Pin bear the main responsibility for the above-mentioned violations.
According to the provisions of Article 31 of the measures for the Administration of Law firms engaging in Securities legal Business, the Guangdong Securities Regulatory Bureau decided to take administrative supervision measures of issuing warning letters to Chinese commercial law firms, Zhang Xin and Liu Pin. (Wen / Sina Finance Hao Xian)