69 fines and confiscated more than 1.3 billion yuan during the year, the CSRC will remain unchanged

　　Host Yang Meng: In recent years, the protection of investors in my country’s capital market has been increasing. Whether it is from compacting the responsibilities of intermediaries, cracking down on illegal acts, or establishing a class action system, it protects investors’ rights and interests. growing.

Today this newspaper focuses on the above three aspects to satisfy readers.

　　Our reporter Wu Xiaolu

　　On May 13, the Guangdong Securities Regulatory Bureau disclosed the administrative punishment decision of Niu San and Jiang Lifen for manipulating the market. The 10 securities accounts controlled by Jiang Lifen used their capital advantages to declare a large number of purchases, and through multiple large-scale daily limit closures, and post-closing restrictions. Using daily limit, false declaration and other methods, 8 stocks were manipulated, and the Guangdong Securities Regulatory Bureau confiscated Jiang Lifen’s illegal income of 7.092 million yuan and imposed a fine of 15.1186 million yuan, totaling 22.210 million yuan.

　　Since the beginning of this year, the China Securities Regulatory Commission has continued to increase penalties for violations of laws and regulations.

According to incomplete statistics from the official website of the Securities Regulatory Commission, a reporter from the Securities Daily reported that as of the press deadline on May 14, since this year, the Securities Regulatory Commission and local securities regulatory bureaus have issued 69 administrative penalty decisions, with a total fine of 1.387 billion yuan.

Among them, the total number of insider trading and letter-disclosure violations accounted for more than 70%.

　　Market participants believe that, judging from the penalties this year, the China Securities Regulatory Commission still maintains a high-pressure attitude towards violations of laws and regulations, and severely and promptly re-investigates and punishes vicious violations in accordance with the law.

The three-dimensional accountability system of the capital market is gradually exerting its effectiveness, which will effectively deter violations of laws and regulations, and promote the formation of a law-abiding and respectful rule of law culture in the capital market and a clean and upright market ecology.

　　2 tickets with a confiscated amount of over 100 million yuan

　　Penalties increased significantly

　　From the perspective of the types of punishments, among the 69 administrative punishment decisions mentioned above, 25 involved letter-disclosure violations and 24 involved insider trading, accounting for 36.23% and 34.78%, respectively, and the two together accounted for more than 70%. .

In addition, there are 4 photos involved in market manipulation.

　　At the same time, as of this year’s press release, the China Securities Regulatory Commission and local securities regulatory bureaus have also issued 12 market banning decisions. A total of 28 people have been taken market ban measures, of which 8 people have been taken life-long market ban measures. The rest have been banned from the securities market for 3 to 10 years.

　　Tian Lihui, dean of the Financial Development Research Institute of Nankai University, told a reporter from the Securities Daily that in the capital market, openness is the basis of fairness and justice, and most violations of laws and regulations stem from the improper advantage of information.

Over 70% of the fines come from insider trading and letter-disclosure violations, which are a manifestation of the regulatory authorities' maintenance of the "three equity" principle of the capital market and also prove the fairness of my country's securities audits.

　　It is worth noting that in recent years, the illegal buying and selling of stocks by securities practitioners has also become the focus of regulatory penalties.

Among the 69 fines mentioned above, 8 involved securities practitioners illegally buying and selling stocks, accounting for 11.59%, and the number is second only to letter violations and insider trading.

Including a case of "rat warehouse" by securities practitioners.

　　"This is the result of the use of cutting-edge technologies such as artificial intelligence and big data for scientific and technological supervision and law enforcement." Tian Lihui said that through new inspection methods, it is difficult to hide the "rat warehouse" problem of securities practitioners. The Securities Regulatory Commission has violated regulations of securities practitioners. There is "one penalty and one penalty" for violations, and the law is enforced fairly.

　　Judging from the amount of fines, of the 69 fines mentioned above, 8 were fined in excess of 10 million yuan, and 2 of them were fined more than 100 million yuan.

Specifically, in January this year, Jiuding Holdings and Wu Gang were fined more than 600 million yuan by the China Securities Regulatory Commission for using other people’s accounts to engage in securities transactions. In April of this year, LeTV and Jia Yueting and others were fined 484 million yuan by the China Securities Regulatory Commission.

　　"From an overall point of view, the administrative penalties imposed by the China Securities Regulatory Commission have increased significantly this year, which has played a deterrent effect on violators." Tian Lihui said that this year's inspections by the China Securities Regulatory Commission emphasized all aspects and strived not to leave dead ends. Violations of regulations and laws by practitioners have increased the intensity of investigation and punishment.

This year the China Securities Regulatory Commission emphasized maintaining a "zero tolerance" situation, continued strict supervision, and continued to maintain a high-pressure situation with regard to violations of laws and regulations, hoping to achieve a new normal that dares not violate regulations and is clean and upright.

　　Three-dimensional accountability system

　　Increase deterrence

　　With the implementation of the new Securities Law and the Criminal Law Amendment (11), the cost of violations in the capital market has increased significantly, and the three-dimensional accountability system of administrative law enforcement, civil recovery and criminal punishment has been continuously improved.

According to data from the China Securities Regulatory Commission's website, in 2020, the China Securities Regulatory Commission transferred and notified 116 case clues to the public security organs, a year-on-year increase of double, and the crackdown continued to strengthen.

　　Chen Jie, deputy director of the Inspection Bureau of the China Securities Regulatory Commission, said recently that the China Securities Regulatory Commission will resolutely implement the Central Committee’s "Several Opinions on Strictly Cracking Down on Illegal Securities Activities in accordance with the law," and implement the new Securities Law and Criminal Law Amendments (10 1. As an opportunity, strengthen law enforcement and judicial coordination, adhere to "one case double investigation", crack down on vicious and illegal acts such as financial fraud and fraudulent issuance, resolutely investigate the illegal responsibilities of relevant institutions and personnel, and continue to improve administrative law enforcement, civil recovery and criminal law The three-dimensional disciplinary system of accountability effectively maintains the order of the "three publics" in the market.

　　Tian Lihui said that at present, my country's ordinary representative and special representative litigation system is being put into practice, and the protection of investors' rights and interests has obtained the necessary legal weapons.

After amendments, the Criminal Law has greatly increased the cost of illegal activities in the capital market, which can effectively deter illegal activities.

The three-dimensional accountability system in which the "civil punishment" in my country's capital market is connected has been further improved. The rule of law culture of observing and respecting the law is being formed, and the capital ecology is getting better day by day.

　　Li Minghao, a senior researcher at the Wanbo New Economic Research Institute, said in an interview with a reporter from the Securities Daily that he promotes the construction of a three-dimensional accountability system for the capital market, increases the cost of violations of laws and regulations, and strengthens the crackdown, which can improve the quality of listed companies from the supply side. Protect the legitimate rights and interests of investors.

At the same time, with the formation of a good ecology in the capital market, investor confidence can be increased and investors can be attracted to make long-term investments with a more rational mindset.

(Securities Daily)