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The China Securities Regulatory Commission intends to impose administrative penalties on 8 illegal cases
Release Time：2019-04-25
17:25, October 30, 2015 Source: China Securities Regulatory Commission
A few days ago, the China Securities Regulatory Commission reported that a listed company was suspected of violating the law on information disclosure, a certain accounting firm, an asset appraisal company was suspected of failing to perform due diligence, an investment company used other people’s accounts to buy and sell stocks, and Li Mouxia was suspected of insider trading "New Wave Industry" , Yan Mouming suspected of insider trading "Leo Shares" case, Li Mojie suspected of insider trading "Boyun New Materials" case, Luo Mouyang, Luo Mouying suspected of insider trading "Oriental Tower", "Yellow River Tornado" case, etc. 8 A securities violation case has been tried and determined, and the proposed fines and forfeitures total nearly 147 million yuan. It is proposed to take measures to prohibit access to the securities market on 8 parties, of which 3 parties are banned for life, and relevant cases have entered the advance notification procedure.
In the case of a listed company suspected of violating the law on information disclosure, the listed company used various methods such as early confirmation of revenue, delayed recognition of year-end bonuses, and fictitious contracts to inflate revenues to inflate its 2013 annual profit and realize its 2013 annual report. The CSRC intends to order the listed company to make corrections, give a warning and impose a fine of 600,000 yuan, warn its directors, supervisors, senior management, and relevant middle-level personnel, and give 300,000 to 30,000 yuan to the listed company according to the degree of responsibility. In addition to fines and penalties, the chairman and general manager, secretary of the board of directors, chief financial officer, deputy general manager in charge of marketing, and manager of the financial department who directly participated in financial fraud shall be banned from the securities market for five years.
A certain accounting firm was suspected of failing to perform due diligence in carrying out annual report audit services for listed companies, failed to perform necessary audit procedures, and failed to obtain sufficient and appropriate audit evidence. I will order it to make corrections, confiscate its business income of 700,000 yuan and impose a three-fold fine, and give warnings to the two CPAs directly responsible, and impose a fine of 100,000 yuan each.
An asset appraisal company was suspected of violating a number of practice standards in the course of conducting asset appraisal business for a listed company. I will order it to make corrections, confiscating its business income of 120,000 yuan and imposing a three-fold fine on the two directly responsible asset appraisals. The division gave a warning and imposed a maximum fine of 100,000 yuan.
In the case of an investment company using another person’s account to buy and sell stocks, Zhou Moujie, the actual controller of the company, started to use another person’s account in 2014 and used the idle funds of the investment company to buy and sell stocks. The profit and loss were borne by the company, and the total profit was 41,015,596.78 yuan. I will order the investment company to make corrections, confiscate its illegal income and impose a double fine, and give Zhou Mojie a warning and impose a fine of 100,000 yuan.
In the case of Li Mouxia's suspected insider trading "Xin Chao Industrial", the parties illegally obtained inside information about the listed company's planning of major investment in the workplace, and controlled the use of funded accounts to trade "Xin Chao Industrial", resulting in a profit of 8,754,982.87 yuan. Suspected of insider trading, I will Taking into account the circumstances of its active cooperation in the investigation, it is proposed to order it to deal with illegally held stocks in accordance with the law, to confiscate the illegal gains and impose a double fine.
In the case of "Leo Shares" suspected of insider trading by Yan Mouming, during the period when the listed company was planning a major investment, Yan Mouming had frequent contacts with executives of the listed company who knew the insider information, and his trading behavior was highly consistent with the insider information and profited 4,550,512.81 yuan, suspected of insider trading, I will confiscate its illegal income and impose a three times fine.
In the case of Li Mojie’s suspected insider trading "Boyun New Materials", during the period when a listed company was planning a major investment, Li Mojie, the general manager of a securities business department, frequently contacted senior executives of the shareholder unit of the listed company who knew insider information. Contact, using the account of another person to trade "Boyun New Materials", the trading behavior is highly consistent with insider information, and the profit was 2,887,526.29 yuan, suspected of insider trading. I will confiscate its illegal gains and impose a three-fold fine, and at the same time take life-long security market bans.
Luo Mouyang and Luo Mouying brothers were suspected of insider trading in the "Eastern Tower" and "Yellow River Tornado" cases, and the two brothers were both securities practitioners. Luo Mouyang used them to be responsible for and contracting listed companies to purchase assets or non-public offerings. The information is convenient, and his brother controlled the use of other people’s accounts to buy relevant stocks, and was suspected of 3 insider trading between 2013 and 2015, including a loss of 126,043.03 yuan in the transaction of "Eastern Tower" in 2013 and a loss of 486.7 yuan in the transaction of "Yellow River Tornado" in 2014; In 2015, the "Yellow River Tornado" traded a profit of RMB 446,920.26. I will confiscate the illegal income of RMB 446,920.26, and impose a fine of RMB 2,540,760.78 on the three insider trading activities. At the same time, the two persons shall be banned from entering the securities market for life.
The illegal information disclosure of listed companies misleads and defrauds investors, and seriously damages the "three public" order of the capital market. Securities service agencies are slack in fulfilling the legal obligations of diligence and due diligence, and violate the principle of good faith of market "gatekeepers". Legal persons use other people's accounts to buy and sell securities Acts disrupted the order of securities market management, and insider trading activities abused the information advantages of “insiders” to conduct unfair transactions with other investors, which must be severely cracked down. Securities law enforcement will always maintain a high-pressure situation and resolutely maintain an open, fair and just market order.
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