Market fixing spurs online info platform
Print Edition
CHINA has seen a rising trend of market manipulation over the past three years that the securities regulator has set up an online-based information analytical system to crack down on conspiracy trading.
The system, developed by the China Securities Regulatory Commission, went online recently. It supports cloud computing, search and positioning, and uses other technological features which aim to promote timely disclosure by public companies, raise information transparency, and curb market manipulation and false disclosure.
Other new trends included more cases of concealed associated accounts. The CSRC is also worried about information-based market fixing. Some public companies made false disclosure or delayed disclosure to allow major shareholders and senior executives to cut their holdings.
The CSRC said yesterday that of the over 150 cases it has investigated since 2008, more than 80 of them have been transferred to prosecutors, 41 cases settled with administrative punishment, and 18 people were imprisoned after being found guilty.
As well as rising frequency of malignant market manipulation, illegal profit-taking soared in the past three years. The biggest involved 168 million yuan (US$27 million), the CSRC said.
The CSRC disclosed four cases that received administrative punishment for market manipulation, including Hengyi Group, the parent of Shenzhen-listed Hengyi Petrochemical Co, which was fined 600,000 yuan in April for price rigging.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
