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China penalizes offenders in 9 cases of securities market violations

Xinhua, September 25, 2015 Adjust font size:

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 22.23 million yuan (3.48 million U.S. dollars) on two legal representatives of companies and 25 individuals in the nine cases, according to a statement on the CSRC's website.

In three cases, four 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 nine 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. Endi