Abstract
China’s public enforcement regime has long been blamed for insufficiently and ineffectively deterring securities crime. We collect data on public enforcement outcomes from documents disclosed by listed firms and find that law enforcement outputs have increased significantly since 2011, thanks to the efforts of the China Securities Regulatory Commission’s 38 regional offices. However, due to the lack of a reliable private enforcement regime and the limitations of monetary penalties, the general enforcement of securities law is still regarded as weak. In addition, there exists a salient pattern of selective enforcement. Privately owned listed firms face a harsher regulatory environment in terms of both the number and severity of sanctions from regulators, whereas state-owned, and particularly central-government-controlled firms enjoy the most favourable treatment, although the gap has been reduced in recent years.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
