The China Securities Regulatory Commission worked overtime on New Year’s Eve and fined 63 investors for illegal stock trading with a fine of NT$360 million (AP file photo)
Gao Jiajing/Copy Editor
[Financial Channel/Comprehensive Report]Wu Qing, chairman of the China Securities Regulatory Commission, took office on the 7th. The China Securities Regulatory Commission insisted on “zero tolerance” punishment and worked overtime on New Year’s Eve today (9th). It imposed administrative penalties on 63 employees of China Merchants Securities for buying and selling stocks and other illegal activities. A total of 81.73 million yuan (approximately NT$360 million) was fined, and one person was banned from the securities market for life.
The China Securities Regulatory Commission stated that it is a basic legal requirement that securities practitioners are not allowed to buy or sell stocks. From 2019 to 2023, 67 cases of illegal stock trading by employees have been investigated and administrative penalties imposed on 139 people. In the next step, the China Securities Regulatory Commission will continue to strengthen institutional supervision, behavioral supervision, functional supervision, and penetrating supervision.
In addition, the China Securities Regulatory Commission today also investigated the first case of fraudulent issuance since the implementation of the new “Securities Law”. The China Securities Regulatory Commission reported on its official website that it has recently made administrative decisions on the illegal issuance of fraudulent issuance by Shanghai Silxin Technology Co., Ltd. during its application for initial listing on the Science and Technology Innovation Board. punishment.
The report stated that at the end of 2021, the China Securities Regulatory Commission discovered that Sierxin, which applied for listing in August of that year, was suspected of falsely recording financial data in its prospectus. After investigation, it was found that its operating income in 2020 was 15.3672 million yuan (approximately NT$67.61 million). , accounting for 11.55% of the current year’s operating income, and the total inflated profits totaled RMB 12.4617 million (approximately NT$54.83 million), accounting for 118.48% of the current year’s total profits.
The China Securities Regulatory Commission decided to impose a fine of RMB 4 million (approximately NT$17.6 million) on Sierxin; several senior executives of the company were fined RMB1 million to 3 million (approximately NT$4.4 million to NT$13.2 million). Fines vary.
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2024-02-09 07:17:51
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