中华人民共和国证券法（二）

ding to law;

　　(2)to carry out supervision and administration of the issuance, trading, registration, trust and settlement of securities according to law;

　　(3)to exercise supervision and administration of securities business operations of securities issuers, listed companies, securities exchanges, security companies, securities registration and settlement agencies, securities investment fund administration agencies, securities investment consultancy agencies, credit appraisal agencies as well as law firms, accounting firms and asset assessment agencies according to law;

　　(4)to formulate qualification standards and code of conduct for business personnel engaging in securities and supervise their implementation according to law;

　　(5)to supervise and inspect the openness of information on securities issuance and trading according to law;

　　(6)to provide guidance for and supervision over activities of the securities industry associations according to law;

　　(7)to investigate and handle acts in violation of the laws and regulations governing supervision and administration of the securities market according to law; and

　　(8)other duties and responsibilities stipulated in laws and regulations.

　　Article 168 The securities supervision and administration institution under the State Council has the power to adopt the following measures in performing its duties and responsibilities according to law:

　　(1)to enter a site of occurrence of illegal acts for investigation and evidence gathering;

　　(2)to inquire the parties concerned, unit(s) and individual(s) concerned of the event under investigation, and ask them to make explanations of matters relating to the event under investigation;

　　(3)to look up, copy the records on securities transactions, records on ownership transfer registration, financial and accounting materials as well as other relevant documents and materials of the parties concerned and unit(s)and individual(s) concerned of the event under investigation, and may seal up those documents and materials that may be transferred or concealed for safekeeping; and

　　(4)to investigate and make inquiry of the fund accounts, securities accounts of the parties concerned and unit(s) and individual(s) concerned of the event under investigation, and an application may be filed with the judicial organ for the freezing of the illegal funds and securities when there is evidence to prove that ther

e are signs of transfer or concealment thereof.

　　Article 169 Functionaries of the securities supervision and administration institution under the State Council shall, in performing their duties and responsibilities, in carrying out supervision and inspection or investigation according to law, produce relevant ID cards, and have the obligation to keep the secrecy of the commercial secrets of the unit(s)and individual(s) concerned they have come to know.

　　Article 170 Functionaries of the securities supervision and administration institution under the State Council must be devoted to their duties, handle matters according to law, be impartial, honest and clean, and must not seek unlawful profits by taking advantage of their own positions.

　　Article 171 The securities supervision and administration institution under the State Council shall perform its duties and responsibilities according to law, the unit(s) and individual(s) under inspection and investigation should cooperate, truthfully provide relevant documents and materials, and must not refuse, obstruct or conceal.

　　Article 172 The securities supervision and administration institution under the State Council shall make public rules and regulations and rules for supervision and administration work formulated according to law.

　　The securities supervision and administration institution under the State Council should make public penalty decision(s) taken on illegal acts in securities on the basis of the results of investigation.

　　Article 173 The securities supervision and administration institution under the State Council should, upon uncovering of illegal acts in securities suspected of commitment of a crime in the performance of its duties and responsibilities according to law, transfer the case to a judicial organ for handling.

　　Article 174 Functionaries of the securities supervision and administration institution under the State Council must not take up concurrent posts in institutions under its supervision and control.

　　Chapter XI Legal Liability

　　Article 175 Whoever issues securities without authorization or issues securities by fabricating false issuance documents without verification and approval or examination and approval of a legal organ shall be ordered to stop the issuance, refund the funds raised and the additionally calculated bank deposit interests of the corresponding period, and concurrently imposed a fine of more than 1% less than 5% of the amount of funds raised illegally. The person-in-charge directly responsible and other personnel directly responsible shall be administered a warning and concurrently imposed a fine of more than RMB 30000 Yuan less than RMB 300000 Yuan. Where a crime has been constituted, criminal liability shall be investigated according to law.

　　Article 176 A security company that underwrites or acts as a commission agent for the buying and selling of securities issued without authorization and without verification and approval or examination and approval shall be banned by the securities supervision and administration institution, confiscated of the illegal income, and concurrently imposed a fine of more than 100% less than 500% of the illegal income. The person-in-charge directly responsible and other personnel directly responsible shall be administered a warning and concurrently imposed a fine of more than RMB 30000 Yuan less than RMB 300000 Yuan. Where a crime has been constituted, criminal liability shall be investigated according to law.

　　Article 177 Any issuer of securities verified and approved for listing for trading pursuant to the provisions of this Law who fails to disclose information in accordance with relevant provisions, or the information disclosed carries false recordings, misleading statements or has major omissions shall be ordered by the securities supervision and administration institution to make a rectification and the

issuer shall be imposed a fine of more than RMB 300000 Yuan less than RMB 600000 Yuan. The person-in-charge directly responsible and other personnel directly responsible shall be administered a warning and concurrently imposed a fine of more than RMB 30000 Yuan less than RMB 300000 Yuan. Where a crime has been constituted, criminal liability shall be investigated according to law.

　　Any issuer of the preceding paragraph who fails to make an announcement of its listing documents or submit the relevant report on the specified time shall be ordered by the securities supervision and administration institution to make a rectification, and the issuer shall be imposed a fine of more than RMB 50000 Yuan less than RMB 100000 Yuan.

　　Article 178 Whoever illegally establishes a securities trading site shall be banned by the securities supervision and administration institution, confiscated of the illegal income and concurrently imposed a fine of more than 100% less than 500% of the illegal income. Where there is no illegal income, a fine of more than RMB 100000 Yuan less than RMB 500000 Yuan shall be imposed. The person-in-charge directly responsible and other personnel directly responsible shall be administered a warning and concurrently imposed a fine of more than RMB 30000 Yuan less than RMB 300000 Yuan. Where a crime has been constituted, criminal liability shall be investigated according to law.

　　Article 179 Whoever establishes a security company operating securities business without authorization and without approval and obtainment of a business license shall be banned by the securities supervision and administration institution, confiscated of the illegal income and concurrently imposed a fine of more than 100% less than 500% of the illegal income. Where there is no illegal income, a fine of more than RMB 30000 Yuan less than RMB 100000 Yuan shall be imposed. Where a crime has been constituted, criminal liability shall be investigated according to law.

　　Article 180 Any of the personnel prohibited from participating in stock trading provided for in laws and regulations who holds or buys and sells stocks directly or by using an assumed name or under the cloak of another person's name shall be ordered to dispose of the illegally held stocks according to law, confiscated of the illegal income and concurrently imposed a fine of less than the equivalent value of the stocks bought or sold; whoever is a state functionary shall also be imposed administrative sanctions according to law.

　　Article 181 Any employee of a securities exchange, a security company, a securities registration and settlement agency, a securities trading services agency, any staff member of a securities industry association or a securities supervision and administration institution who induces and lures investor(s)to buy or sell securities by deliberately providing false materials, forging, altering or destroying trading records shall be revoked of his/her employment qualification and concurrently imposed a fine of more than RMB 30000 Yuan less than RMB 50000 Yuan; whoever is a state functionary shall also be imposed administrative sanctions. Where a crime has been constituted, criminal liability shall be investigated according to law.

　　Article 182 Any specialized agency or its member drawi

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