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Sunday, December 16, 2018, 18:16
China's securities regulator fines three for illicit trading
By Xinhua
Sunday, December 16, 2018, 18:16 By Xinhua

BEIJING — China's securities regulator have punished three individuals for illicit stock and securities trading.

The China Securities Regulatory Commission has imposed fines totaling 1.05 million yuan (US$152,000) on three individuals in its latest crackdown on illegal market operations

The China Securities Regulatory Commission (CSRC) has imposed fines totaling 1.05 million yuan (US$152,000) on three individuals in its latest crackdown on illegal market operations.

ALSO READ: China securities regulator vows to protect investors' interests

The CSRC said in a statement that the commission has always maintained a tough stance against market violations. It ordered industry employees to "keep a distance from red line of the law," in order to protect the interests of investors.

Thanks to the enhanced crackdown, cases of rat trading, known as front-running in US and European markets, slumped 50 percent year-on-year in the first half of 2018, CSRC data showed.

READ MORE: China slaps highest-ever penalty for market manipulation

The commission has vowed continued efforts to prevent financial risks and foster a healthy investment environment. The country's two major stock exchanges have released rules to force companies to exit the equity market for serious law violations. 


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