102 securities and futures crimes were arrested in the first 9 months of this year
Beijing, November 6, reporter Zhou Bin, trainee reporter Zhao Jie, reporter learned from a press conference jointly held by the Supreme People’s Procuratorate and the China Securities Regulatory Commission that from 2017 to September this year, the nation’s procuratorial organs approved arrests 302 persons were involved in similar securities and futures crimes and 342 persons were charged.
Among them, 102 arrests and 98 prosecutions were approved from January to September this year, up 15% and 27% respectively year-on-year.
In recent years, breakthroughs have been made in key institutional innovations in the capital market led by the reform of the registration system, which have effectively stimulated market vitality, significantly optimized the financial environment for the development of the real economy, and achieved remarkable reforms.
However, it cannot be ignored that some illegal and criminal activities such as financial fraud, insider trading, and market manipulation have severely disrupted the order of the capital market, harmed the interests of investors, and endangered the reform and development process of the capital market, and must be severely cracked down.
In order to give full play to the guiding and educational role of cases, the Supreme People’s Procuratorate and China Securities Regulatory Commission jointly released 12 typical cases of securities violations and crimes today.
Among them, 6 are typical cases of securities crimes, including fraudulent issuance of stocks, illegal disclosure, non-disclosure of important information, securities market manipulation, insider trading, leakage of inside information, etc.; 6 are typical cases of securities violations, including Yamou Stock Co., Ltd. The company’s information disclosure violations, the case of Liao Mouqiang manipulating the securities market, the case of Zhou Mou and insider trading, etc.
Teng Biyan, director of the Office of the Administrative Punishment Committee of the China Securities Regulatory Commission, said that since the 19th National Congress of the Communist Party of China, the CSRC has made 810 administrative punishment decisions, 82 decisions on market bans, and a fine of 19.304 billion yuan. Law enforcement sends a clear signal of "zero tolerance", providing a solid legal guarantee for the reform of the registration system and the healthy development of the capital market.
Zheng Xinjian, Director of the Fourth Prosecutor’s Office of the Supreme People’s Procuratorate, said that procuratorial organs will earnestly study the spirit of the Fifth Plenary Session of the 19th Central Committee of the Party, and have a deep understanding of the important supporting and promoting role of “financial stability” in “six stability” and “six guarantees”. Close cooperation with relevant departments such as securities and futures supervision, better play the role of procuratorial functions, and continue to increase the punishment of financial fraud, insider trading, market manipulation and other crimes that endanger the order of the securities and futures markets, and provide a powerful force for the reform and development of the capital market Judicial guarantee.