Recently, Cinda securities received the first ticket issued by the regulator to securities companies in 2022.
In June 2021, Zhou moutao, an employee of Xinda securities company, was fined 200000 yuan for illegally buying and selling stocks by borrowing other people’s accounts. After a lapse of six months, due to the illegal sales of several financial products and the inadequate control of employees, Anhui securities regulatory bureau decided to order Zhou moutao’s Bengbu Huaihe Road Business Department of Cinda securities to take corrective measures, and decided to issue a warning letter to the person in charge of the business department at that time.
both the business department and the person in charge were fined
On January 12, Anhui Securities Regulatory Bureau disclosed the decision on issuing a warning letter to Yao.
Anhui securities regulatory bureau said that after investigation, when Yao served as the person in charge of the securities business department of Bengbu Huaihe Road of Xinda Securities Co., Ltd., the business department had the following problems: first, he violated the investor suitability requirements and illegally sold multiple financial products during 2014-2015; Second, there is a lack of effective constraints on employees’ practice behavior, and the control is not in place.
The above-mentioned acts violated relevant regulations, and the CSRC decided to take administrative supervision measures to issue warning letters and record them in the integrity archives of the securities and futures market. The person in charge of the business department shall fully learn lessons, further strengthen the study of securities and futures laws and regulations in accordance with the requirements of regulatory regulations, improve their compliance awareness and standardize their professional behavior.
In addition, on January 11, Anhui securities regulatory bureau also ordered Xinda securities Bengbu Huaihe Road Securities Business Department to take corrective measures.
Anhui securities regulatory bureau decided to take administrative regulatory measures to order the business department to make corrections and record them in the integrity archives of the securities and futures market. The business department shall take a warning, further strengthen the internal management of the business department in accordance with the regulatory requirements, effectively improve the compliance management level, prevent the recurrence of similar problems, conduct internal accountability for relevant responsible personnel, and submit the rectification report and internal accountability to the CSRC within 30 days after receiving this decision.
illegal stock speculation by employees of the business department
As early as half a year ago, Zhou moutao, an employee of Xinda securities Bengbu Huaihe Road Securities Business Department, borrowed another person’s account to illegally buy and sell stocks, which was decided by Anhui securities regulatory bureau to take administrative punishment. Recently, these two tickets are the follow-up disposal of the employee’s illegal stock speculation.
On June 11, 2021, Anhui securities regulatory bureau announced a decision on administrative punishment. According to the punishment book, Zhou moutao illegally traded stocks by borrowing other people’s accounts and was fined 200000 yuan. It is worth mentioning that the employee borrowed as many as 15 accounts and lost more than 6.42 million yuan in stock speculation.
Anhui Securities Regulatory Bureau found that Zhou moutao engaged in stock trading with a total of 15 securities accounts of 10 people, including “Wang Moumou” and “Cao Mou”, from February 12, 2014 to September 11, 2020. During the period controlled by Zhou moutao, the relevant accounts bought 68384500 shares, with a purchase amount of 595 million yuan, sold 68359000 shares, with a sales amount of 595 million yuan. After deducting commissions and taxes, the loss was 6.4226 million yuan.
Anhui securities regulatory bureau said that Zhou moutao, as a securities practitioner, borrowed another person’s account to buy and sell stocks during his tenure in the Bengbu Huaihe Road Business Department of Xinda securities, which violated the provisions of paragraph 1 of Article 40 of the securities law and constituted an illegal act described in Article 187 of the securities law. Anhui securities regulatory bureau decided to order Zhou moutao to deal with the illegally held shares according to law and impose a fine of 200000 yuan.
According to the data of the Securities Industry Association, Zhou moutao joined Cinda securities in 2007 and is an old employee who has worked for 13 years. In September 2020, Zhou moutao resigned from Cinda securities.
continuous fines for illegal stock speculation
According to the fines issued by supervision over the years, it is common for securities companies’ employees to illegally speculate in stocks. In the last month alone, various securities regulatory bureaus have successively disclosed a number of relevant fines.
On January 6, Tianjin Securities Regulatory Bureau disclosed a decision on administrative punishment. Liao, who was then an employee of Guosen Securities Co.Ltd(002736) business department, traded 67 stocks with his mother’s “Su Mouping” account and made a profit of more than 90000 yuan. During the period, he also borrowed his client Xu’s account to speculate in stocks. He not only didn\’t make a profit but also lost a loss. He was fined and confiscated 185500 yuan in total.
On December 31, 2021, the ticket disclosed by Fujian Securities Regulatory Bureau showed that Liang Moumou, marketing director of Houjie branch of Dongguan securities, privately accepted the entrustment of customers to buy and sell securities, was given a regulatory warning and fined 100000 yuan.
Employees of securities companies may be fined for illegal stock speculation, or they may be banned from the market for life.
At the same time, in recent years, the supervision of employees’ illegal stock speculation has also been increasing. The new securities law further stipulates that employees of securities trading places, securities companies and securities registration and settlement institutions, staff of securities regulatory bodies and other personnel prohibited from participating in stock trading by laws and administrative regulations shall not hold shares directly or in an alias or in the name of others during their tenure of office or within the statutory time limit Buy and sell stocks or other securities with equity nature, and shall not receive stocks or other securities with equity nature presented by others.
The new securities law also stipulates that no unit or individual may, in violation of the provisions, lend its own securities account or borrow another person’s securities account to engage in securities trading, and may be fined less than 500000 yuan.
