严格的监管和审核能够保证证券市场信息的真实性。在目前监管和审核还存在许多薄弱环节的情况下,对发行人和保荐人的虚假信息披露等违法和违规行为进行严厉的惩罚以加大其违约成本是必要的。因此,立法上还需设置专门条款来加大处罚力度以形成对发行人和保荐人可信的威胁。证券监管机构还可以通过资格控制、及时发布保荐人信息和建立保荐人退出机制等手段,保证保荐人的质量符合市场要求。 Strict supervision and audit to ensure the authenticity of the securities market information. In the current regulatory and audit there are still many weak links in the circumstances, the issuer and the sponsor false disclosure of information and other illegal acts and violations severely punished to increase its cost of non-compliance is necessary. Therefore, the legislation also need to set up special provisions to increase penalties to form a credible threat to issuers and sponsors. Securities regulators can also ensure that the quality of the sponsors meets the market requirements through the control of qualifications, the timely release of sponsor information and the establishment of a sponsor exit mechanism.