SHANGHAI ― China's securities regulator vowed on Friday to clamp down harder on financial fraud, saying it is pushing for harsher punishment against lawbreakers as it seeks to revive confidence in the country's struggling stock markets.
'Financial fraud seriously disturbs capital market order and shakes investor confidence,' the CSRC said in the joint statement.Regulators will 'go after chief evils,' 'punish accomplices,' and make coordinated, systemic and comprehensive efforts against fraud, it said.As part of the efforts to head off misbehavior, the CSRC said it has been working to revise laws toward harsher punishment.
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