Leading Chinese capital markets law firm Jingtian & Gongcheng says it was fined $50,000 by China’s securities regulator over its failure to perform adequate due diligence on an initial public offering.
The firm received a penalty notice from the China Securities Regulatory Commission on Feb. 12. In addition to the fine, Jingtian & Gongcheng says it was ordered to disgorge $25,000 in legal fees and that the individual lawyers involved in the IPO at the issue were each fined $16,700.
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