For what reason was Great Wisdom investigated by the CSRC?

Shanghai Great Wisdom Co., Ltd. announced that it had received a notice from the China Securities Regulatory Commission that it had been placed on file for investigation for allegedly violating securities laws and regulations, and at the same time suspended the review of the company's application for issuing shares and raising matching funds to purchase Cai Xiang securities.

Great Wisdom is a company engaged in capital market investment consulting and related services. Founded in 2002, it was successfully listed on the Shanghai Stock Exchange on 20 1 1. 65438 This year1October 23rd, Great Wisdom issued a reorganization plan, and planned to acquire 0/00% equity of Cai Xiang Securities by issuing shares and paying cash. When this plan came out, it detonated the market for a period of time, which coincided with the hot brokerage stocks and the vigorous development of the concept of Internet finance. After the resumption of trading, great wisdom gains 12 daily limit. The share price also soared from 6.58 yuan to the highest 35 yuan.

On May 4th, Great Wisdom announced that it had received an investigation notice from the CSRC on April 30th. Because the company's information disclosure is suspected of violating securities laws and regulations, the CSRC decided to file an investigation on the company. Affected by this news, the share price of Great Wisdom continued to fall on May 4th and May 5th.

On May 8, Zhang Xiaojun, spokesperson of the CSRC, said at the weekly regular press conference that Great Wisdom was the first enterprise notified of the special enforcement action of the 20 15 French Open by the CSRC, and the investigation was under way.