What are the legal responsibilities for violating the information disclosure system?

The legal responsibility for violating the information disclosure system is that the China Securities Regulatory Commission shall order it to make corrections, give it a warning and impose a fine of more than 300,000 yuan but less than 600,000 yuan. Give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of more than 30,000 yuan and less than 300,000 yuan.

legal ground

Article 60 of the Measures for the Administration of Information Disclosure of Listed Companies

If a listed company fails to formulate a management system for information disclosure affairs of listed companies in accordance with the provisions of these Measures, the China Securities Regulatory Commission shall order it to make corrections. Refuses to correct, the China Securities Regulatory Commission shall give a warning and impose a fine.

Article 61

If the information disclosure obligor fails to fulfill the obligation of information disclosure within the prescribed time limit, or there are false records, misleading statements or major omissions in the information disclosed, the China Securities Regulatory Commission shall impose penalties in accordance with Article 193 of the Securities Law.