China Fund News reporter Han Zhang
Recently, the regulatory authorities disclosed a number of fines, all related to controlling multiple securities accounts to make profits from convergence transactions. In the end, the offenders not only had all their illegal gains confiscated, but were also fined an equal amount. .
html On May 15, the Shanghai Securities Regulatory Bureau disclosed an administrative penalty decision indicating that an administrative penalty was imposed on l, a staff member of an asset management company, for taking advantage of his position to control multiple securities accounts to make profits from convergence transactions. The total transaction amount of convergence transactions was 49.9438 million yuan. In the end, more than 1.39 million yuan of illegal income was confiscated and a fine of the same amount was imposed.
The administrative penalty decision stated that from September 28, 2017 to September 21, 2022, l successively served as a staff member of the risk management position of the performance risk assessment team and the risk management position of the investment risk team of a certain asset management risk management department, and was mainly responsible for Portfolio risk management and other work. Due to work needs, l frequently logs into the smart portfolio risk management system, investment management system, intelligent report analysis platform, etc. that he has permission to know about the positions and transactions of products such as "An Insurance Co., Ltd.-Investment-Linked-Individual Insurance Investment-Linked" Details and other undisclosed information.
From March 3, 2020 to September 5, 2022 (hereinafter referred to as the convergence transaction period involved in the case), l successively controlled the securities account of "Xue Mou" x, the securities account of "Xu Mou" z, and the securities account of "Xue Mou" d Securities accounts carry out relevant securities transactions. During the convergence transaction involved in the
case, l used the undisclosed information related to the above-mentioned products obtained due to his position, violated regulations, and controlled the use of "Xue Mou" x securities account, "Xu Mou" z securities account, and "Xu Mou" d securities The account is engaged in securities trading, and convergence transactions occurred with products such as "An Insurance Co., Ltd.-Investment-Linked-Individual Insurance Investment-Linked" related to the employment. The number of convergence transactions was 180 stocks, the total transaction amount of convergence transactions was 49.9438 million yuan, and the total amount of convergence profits 1,390,091.26 yuan (approximately 1.39 million yuan).
The Shanghai Securities Regulatory Bureau believes that l’s above-mentioned behavior violated the provisions of Article 54, paragraph 1, of the Securities Law of the People’s Republic of China, and constituted the second paragraph of Article 191 of the Securities Law of the People’s Republic of China. the illegal conduct described. It was decided to order l to dispose of the illegally held securities in accordance with the law, confiscate the illegal income of 1,390,091.26 yuan (approximately 1.39 million yuan), and impose a fine of 1,390,091.26 yuan (approximately 1.39 million yuan).
It is worth noting that recently, the Shenzhen Securities Regulatory Bureau also disclosed a fine. The investment director of a private equity institution used undisclosed information to converge trade stocks for about 25.24 million yuan. Not only was all his illegal gains confiscated, but he was also fined an equal amount. fine.
The penalty decision shows that from March 21 to June 7, 2022, two securities accounts managed by Li and 6 private equity fund products including Yinuo Qianjin No. 3 managed by Yinuo Investment (hereinafter referred to as "Yinuo Investment") There is convergence in the stocks traded by the two accounts. The total transaction amount of the two accounts was approximately 25.2447 million yuan, and the total profit was approximately 3.2654 million yuan.
As one of the founding partners of Yinuo Investment, Li actually performs the duties of investment director and is mainly responsible for the daily work of Yinuo Investment. The Shenzhen Securities Regulatory Bureau stated that Li used undisclosed information to implement transactions that were consistent with the Yinuo Investment Account Group. His behavior not only violated his fiduciary responsibilities, but also violated the principles of fairness in the securities market, violated administrative order, and was administratively illegal.
In the end, the Shenzhen Securities Regulatory Bureau decided to order Li to make corrections, confiscate the illegal income of 3.2654 million yuan, and impose a fine of 3.2654 million yuan.
Industry insiders said that the personnel involved in the above-mentioned "rat warehouse" used their positions and undisclosed information to conduct transactions, which not only obtained unfair benefits for themselves, but also destroyed the fair competition environment of the stock market. In addition, when a large amount of funds concentrate on convergence trading of stocks in a short period of time, it will cause abnormal fluctuations in the prices of related stocks, thereby affecting the stability of the entire market.
html On May 15, Wu Qing, Chairman of the China Securities Regulatory Commission, delivered a speech at the 2024 "May 15 National Investor Protection Publicity Day" event and stated that securities violations and crimes will be further cracked down in accordance with the law.Wu Qing said that illegal and criminal activities such as fraudulent issuance, financial fraud, insider trading, and market manipulation are cancers of the capital market and seriously infringe on the legitimate rights and interests of investors.Since last year, the China Securities Regulatory Commission has resolutely implemented the requirements of "thorny" and angular supervision, and the number of cases investigated and the amount of penalties have increased significantly. Our attitude towards "zero tolerance" in cracking down on securities violations and crimes is unwavering. We will work with relevant parties to improve the securities law enforcement and judicial system and mechanism, accelerate the construction of a comprehensive punishment and prevention system for anti-counterfeiting in the capital market, further improve the efficiency of administrative and criminal connections, make criminals pay a heavy price, and effectively maintain the market order of "three public affairs".
Editor: Xiaomo
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