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Investor Protection Case - against stock market manipulation

source:Original    time:2016-09-13     Pageviews:654

First, Wang Guobin stock market manipulation case
According to the Shanghai Stock Exchange to monitor found clues in December 2011, the Commission alleged manipulation of accounts surname Wang Ningbo Bird Co., Ltd. (hereinafter referred to as "ST waveguide") stock price behavior record for audit.
The investigation, April 26, 2011, Wang Guobin not the actual turnover for the purpose of reporting and the frequent use of the means of manipulation revocation declaration "ST Bird" stock, resulting in "ST Bird" by the opening stock price gained 5.42 yuan to the closing price of 5.70 yuan, peaked at 5.75 yuan (limit price), rose 4.01%, the amplitude of 6.93%, the impact on other investors "ST waveguide" stock exchange price and supply and demand judgment, induce other investors to buy "ST Bird" stock, then sell holdings "ST waveguide" profit shares to FIG. Wang Guobin manipulation "ST Bird" stock losses 41,440.08 yuan.
The Commission finds that the above acts Wang Guobin, in violation of the "Securities Act" Article 77 on the prohibition of manipulating stock prices of provisions, constitute the "Securities Act" Article 203 of the second "violation of this law, stock market manipulation shall be ordered according to law illegally held securities, confiscation of illegal income and impose more than five times the illegal gains fine; no illegal gains or the illegal gains are less than 300,000 yuan, a fine of 300,000 to three million yuan fine ... "violations. Under the "Securities Act" Article 203, the Commission decided to impose a fine of 300,000 yuan Wang Guobin.
Case, Wang Guobin not the actual turnover for the purpose of reporting and the frequent withdrawal transactions declared, is a typical short-term manipulation. Having a short-term manipulation of the serious dangers: First, to mislead the legitimate interests of other investors on the stock trading prices and supply and demand judgment against investors. The second is caused by abnormal fluctuations in stock prices, disrupting the order of the securities market, distort resource allocation function of capital markets, affect the healthy development of the securities market.
Second, Tang Jianping stock market manipulation case
According to the Shanghai Stock Exchange to monitor found clues in January 2011, the Commission on the "Xu X" and alleged manipulation of accounts Shaanxi Aerospace Power High-tech Co., Ltd. (hereinafter referred to as "space power") stock price behavior record for audit.
The investigation, by Tang Jianping Control "Xu X" and 19 securities accounts operated "space power" in the stock price between April 2, 2010 to July 28 date to December 23, a total of more than 1.2 million shares of stock trading , 1.68 million yuan of illegal income.
April 2, 2010 to July 28 JCP 72 trading days, Tang Jianping 70 trading day "space power" stocks, trading volume ranked first accounting for 52 trading days, the number of transactions accounted for stock market transactions volume ratio of more than 20% of the 10 trading days, June 24, the market trading volume accounted for the proportion of 50.14%.
June 11, 2010 to July 28 JCP 25 trading days, Tang Jianping 16 days between their actual control of securities account transactions "space power" stocks, reached a total of 657 million shares, the number of transactions of the market turnover ratio more than 10% in 9 days, July 6, the ratio reached 32.06%.
Tang Jianping 2010 April 2 to July 28 consecutive trading "space power" stock between securities trading account their actual control of the stock, trading volume is large and accounted for a higher proportion of market volume, resulting in "Space power "from 14.09 yuan share price (closing price) April 1, 2010 rose to 19.54 yuan July 28, 2010; and wherein the June 10, 2010, the stock price of 20.51 yuan.
The Commission finds that the above acts Tang Jianping violation of Article 77 on the prohibition of manipulating stock prices of the provisions of the "Securities Law", constitute the "Securities Act" Article 203 of the manipulation of stock price behavior. According to the parties illegal facts, nature, circumstances and level of social harm, according to the provisions of the "Securities Law" Article 203, the Commission decided: Tang Jianping confiscated 1.68 million yuan of illegal income, and impose a 1.68 billion yuan Tang Jianping fine.
Case, Tang Jianping's behavior is a new long-term maneuvering and manipulation of between short-term manipulation of illegal covert means, through financing and multi-point distribution, resulting in transactions real, active illusion intent to conceal the essence of price manipulation. Tang Jianping manipulation of the amount involved is huge, more serious nature, should be punished by the law.
Third, Zhou Wuxiu stock market manipulation case
According to the Shenzhen Stock Exchange to monitor found clues in November 2010, the Commission alleged market manipulation case against Zhou Wuxiu investigation.
The investigation, in January 2010 to April, Zhou Wuxiu through 11 accounts under their control, centralized financial advantage of continuous trading, "integrated into the flight,""all the Electrical and Mechanical", while their actual control between the trading account "to CAC integration "," all the Electrical and Mechanical ", said the frequent manipulation of two stock shares.
2010 Nian January 19 to April 2, Zhou Wuxiu cumulative buy "integrated into the flight," 2308.29 million shares and sold all its trading accounts for the same period in the market, "integrated into the flight," 15.11 percent of the volume, the book profit 379.51 million. In the 49 trading days, Zhou Wuxiu daily are involved in stock trading, trading volume 44, buying volume ranked first; right down to the amount of 1031.59 million shares, accounting for 44.69 percent on the back in a single day accounting for a total of 34 trading days fell more than 30%, which accounted for 18 trading days fell more than 50%. During the "integration into the flight," the stock rose 22.93 percent, 22.92 percent deviation from the market trend. 2010 Nian March 29 to April 30, Zhou Wuxiu total purchase "all the Electrical and Mechanical" 1549.85 million shares sold 1377.89 million shares, its market trading accounted for the same period "all the Electrical and Mechanical" 10.17% of the volume, the book loss of 3.742 million yuan. In the 23 trading days, Zhou Wuxiu are involved in daily stock trading volume in 20 days, buying volume ranked first; right down to the amount of 514.52 million shares, accounting for 35.15 percent on the back in a single day accounting for a total of 10 trading days fell more than 30%, which accounted for 3 days on the back of more than 50%. During the "public Electrical and Mechanical" shares rose 1.71%, 7.91% deviation from the market trend.
The Commission finds that the above acts Zhou Wuxiu violation of Article 77 on the prohibition of manipulating stock prices of the provisions of the "Securities Law", constitute the "Securities Act" Article 203 of the manipulation of stock price behavior. According to the parties illegal facts, nature, circumstances and level of social harm, according to the provisions of the "Securities Law" Article 203, the Commission decided: to Zhou Wuxiu fined one million yuan.
Case, Zhou Wuxiu continuous buy at higher prices, while between its actual control account to back transactions, while prop up share prices caused by the appearance of active trading and the stock price rises to sell shares held, manipulated typical practices, bad character.
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