China Punishes Securities Market Offenders For Violations
China’s securities regulator said Friday that it had dealt out punishments in nine cases of securities market violations, including insider trading, market manipulation and spreading false information.
The China Securities Regulatory Commission (CSRC) decided to impose total fines of CNY 22.23-M (US$3.48-M) on 2 legal representatives of companies and 25 individuals in the 9 cases, according to a statement on the CSRC’s website.
In 3 cases, 4 people were penalized for profiting from stock trading based on insider information learned from management of listed companies, the statement showed.
Other violations involved disclosure of inaccurate or false information by listed companies and manipulating the futures market.
The 9 cases “were all typical violations and had very bad market influence, and thus the CSRC has given severe punishments in a timely manner to oversee market participants in following the law,” the statement said.
The commission will continue to crack down on violations in the securities market to protect investors’ interests.
By Song Miou
Paul Ebeling, Editor
HeffX-LTN
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