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King & Wood

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2023

    Lamp capital ABS fraud case: King & Wood Mallesons warned and ordered to pay joint damages

    Huatai Asset Management's "Meijite Lamp Capital ABS" was found to be fraudulently issued; in 2019 the Jiangsu branch of the CSRC found that King & Wood Mallesons, as legal counsel, had failed to prudently verify the authenticity of the underlying assets and had not produced investigation and inquiry records as required, and issued it a warning letter. In June 2023, the first civil judgment in an ABS fraud case held King & Wood Mallesons liable for 10% joint compensation, about 56 million yuan. In 2024 the firm was also warned in succession by the Shanghai and Shenzhen stock exchanges over violations in Dashenlin's private placement and Suzhou Aode's IPO project. The firm's professional reputation was damaged, and the precedent strengthens intermediaries' "gatekeeper" responsibility.

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