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Investor Protection Case - fight against insider trading

source:Original    time:2016-09-13     Pageviews:639

First, Chen Weili and other alleged insider trading case
According to the Shenzhen Stock Exchange monitoring reveals clues July 2012, the Commission on the "Chen" and other accounts suspected of insider trading investigation. The survey found that Chen Weili and others suspected of insider trading crime, in February 2013, the Commission will refer the case to the public security organs. Currently, the public security organs have been sent Procuratorate for examination and prosecution of cases.
The investigation, Zhejiang ASD Electric Co., Ltd. (hereinafter referred to as ASD) in the communication with the local government, through the research park "retreat into three" policy item. After April 24, the ASD relevant announcement, the share price close to daily limit for two consecutive days. "ASTAR enjoy retreat into three policy" belong "Securities Act" Article 75 of the insider information. Chen Weili when he Wenling city government office, the mayor is responsible for the relevant office issued notices of meetings and make the minutes, the Department of ASD enjoy "retreat into three" Insider policy matters.
April 19, 2012 to 20, Chen Weili use their friends and relatives, "Chen" account cumulative buy "ASTAR" stocks 25.36 million shares, the transaction amount of 2.4208 million yuan. May 7, 2012 all sold, profit 94,500 yuan. Account specific operations and their relatives artificial Chen Weili Yan Moumou. Chen Weili Yan Moumou money by operating with "Chen" account informed insider information while utilizing relatives "Moumou" and "Lin Moumou" account in 2012 April 19 to 20 to buy Ruaishida 109,660 shares traded 998,100 yuan, May 7 all sold, profit 88,000 yuan.
Chen Weili, et al. In violation of Article 76 of the above-described "insider securities trading inside information" Securities Act "and people illegally obtaining insider information, insider information before the public, not purchase or sell securities of the company, or leak this information, or recommendations people buy and sell "provisions, while suspected to constitute" the Securities Criminal Law "Article 180 of the case. Under these provisions, "administrative law enforcement organs suspected criminal cases transferred to the police regulations" (State Council Decree No. 310), etc., the Commission will Chen Weili and others suspected of criminal cases transferred to public security organs to investigate.
In this case the investigation process, the parties involved and carry out anti-Chen Weili preliminary investigation, not only repeatedly evade investigation team, do not cooperate with the investigation, and even collusion of key personnel lie, instigate false certification of its personnel, deliberately concealed the truth. Investigation team through careful analysis and careful arrangements, while in possession of a large number of objective evidence, found Chen Weili suspected insider trading, and transferred to public security organs to investigate.
Second, on Lee Min-chun suspected insider trading case situation briefing
According to the Shenzhen Stock Exchange monitoring reveals clues, February 4, 2013, the Commission on Lee Min Jun and others suspected of insider trading investigation. March 2013, the Commission transferred the case to public security organs. Currently, the public security organs have the case transferred to the Procuratorate for examination and prosecution.
December 2011, Hubei Bo surplus Investment Co., Ltd. (hereinafter referred to as Bo Ying investment) chairman Yang knows the Austrian Steyr company has the intention to sell through intermediaries Steyr investigation. July 6, 2012, Bo Ying investment suspension, November 5, Bo Ying investment resumption and release non-public offering plan, fund-raising nearly 15 billion yuan for the indirect acquisition of Steyr. Bo Ying investment proposed reorganization of assets belonging to the "Securities Act" article 67 "major incident", the "company's major investment behavior and major property purchase decision" and "major changes in corporate ownership structure," the matter information in question is inside information. Bo Ying investment any time secretaries Lee Min-Joon informed and involved in the company's restructuring-related matters, belonging to the insiders.
The investigation, July 1, 2012, her husband Lee Min-Jun Song Yang stored off-site by a friend to a total of 1.69 million yuan in cash bank account, his wife Yang Tu Chunmiao Lee Min-jun relatives, Yang account transaction "Bo Ying investment "stocks are painted Chunmiao operation. Yang deposit funds in the account and transaction "Bo Ying investment" period before the stock, coated with Lee Min-jun Chunmiao multiple contact, and subsequently coated Chunmiao with others during a chat about Lee Min-jun, who cash the deposit and the means to buy it, "Bo Ying investment" stock fact. July 2, Yang Securities Account Buy "Bo Ying investment" 332,655 shares of stock, buy the amount of 1.689 million yuan, 21 November all sold, sold turnover of 255 million yuan, 86 million yuan profit .
Lee Min-Jun, Tu et al Chunmiao violation of the "Securities Act" Article 73 "Prohibition of insider securities trading inside information illegally obtained insider information and who use insider information in securities trading activities" and article 76 "SEC insider information and illegally obtaining insider information people, insider information before the public, not purchase or sell securities of the company, or leak this information, or suggest others to trade the securities "provisions, constitute insider trading; at the same time suspected of" criminal law "Article 180 of the case, according to" administrative law enforcement organs transfer of suspected criminal cases regulations "(State Council Decree No. 310), the Commission will be Lee Min-Jun, Tu Chunmiao suspected insider trading and other criminal behavior transferred to public security organs to investigate.
Case, Lee Min-jun and other man-circumvention investigation, using a single remote trading under the account of others, by others to access large amounts of cash, two three four synergistic crime. I'll investigators through careful analysis and in-depth investigation, successfully locked the suspects, and ultimately transferred to the police investigation.
In both cases, the suspect Chen Weili, as public servants, and as a certain level of leadership positions, knowing the serious consequences of illegal insider trading, but in the interests of the face, still luck, used his office for personal gain through insider trading seriously damaged the image of the government and the stock market "Three" principle, disrupt the market order in the capital. Suspect Lee Min-jun as listed company secretaries, one of its main responsibilities is responsible for matters relating to information disclosure of listed companies, should be familiar with the relevant provisions of insider information and insider trading, but it has to take risks to obtain illegal income, to break the law. Insider trading is the impact of capital market healthy and orderly operation of the "cancer", it has seriously damaged the interests of other investors. For insider trading, no matter what means, the Commission will have a "zero tolerance" approach to crack down, discovered handled leniency, suspected to constitute a crime, the public security organs according to law in a timely manner. Market participants hope often think victims of greed, Chang Huai heart of self-discipline, law compliance, fair and equitable for securities transactions.
Third, the summer Hou Wenhao suspected of using non-public information to trade stocks Case
According to media reports and the Shanghai Stock Exchange verification of clues found, in November 2011, the Commission of the summer Hou Wenhao Ping An Asset Management Co., Ltd. (hereinafter referred to as "peace and information management") former investment manager suspected of using non-public information to trade stocks to initiate behavior survey. June 2012, the Commission transferred the case to public security organs, public security organs has been transferred to the Procuratorate for examination and prosecution.
The investigation, Xia Hou Wenhao in June 2009 into the peace and information management since December 2009 as an investment manager of Ping An Insurance information management room asset investment, has been responsible for the management of three specific investment insurance asset management accounts, since April 2011 room was promoted to vice president of investment. Non-public information about the summer Hou Wenhao in February 2010 to May 2011 during the actual management of the account insurance assets, used his position to facilitate access to the three accounts of insurance asset management investment transactions, use the "Moumou", "Xia Moumou""Jiang Moumou" securities account, insurance or asset account prior to its administration over the same period to buy the same stock 11, turnover totaled 1.46 billion yuan, 919 million yuan profit.
Xia Hou Wenhao above acts constitute "Criminal Law" Article 180 fourth paragraph of the "stock exchange, futures exchanges, securities companies, futures brokerage companies, fund management companies, commercial banks, insurance companies and other financial institutions practitioners and relevant regulatory department or industry association staff, the use of insider information because outside of his office to obtain the additional information is not disclosed in violation of the provisions of the information related to securities and futures-related trading activities, or express, implied others to engage in correlation trading activities "the violations, suspected to constitute the crime of the use of information transaction were not disclosed. Under these provisions, "administrative law enforcement organs suspected criminal cases transferred to the police regulations" (State Council Decree No. 310), etc., the Commission will be the case transferred to the police for investigation. Case, Xia Hou Wenhao obvious intent to avoid regulation, securities account transfer has used Norway in Guangzhou, Shanghai and other places a number of the securities business department, account funds account is the bridge to go through their relatives, friends, and many bank accounts. Facing the complex case, the Commission investigators meticulous arrangements and careful investigation, to obtain a solid evidence. In the face of irrefutable evidence, Xia Hou Wenhao on the use of undisclosed information trading confessed, and gave himself up late in the investigation to the local public security organs.
CSRC official pointed out that the present case is the first case of insurance practitioners Commission investigated the use of undisclosed information trading stock case, Xia Hou Wenhao insurance asset management industry greed "Shuoshu" Investment Manager to be appointed from the Commission investigation found more than a year, taking advantage of his position, the theft of undisclosed information where insurance asset management companies, for their own trading profits. He first insurance asset management in the same period or in its profit to buy the same stock behavior, not only harm the interests of the insured and the insured person's assets, but also damages the "Three Principles" of capital markets, undermining the capital market order, it should be punish. The official stressed, insurance funds constitute an important source of institutional investment funds in the securities market and securities investment funds. Insurance asset management companies of investment fund managers and fund managers as managing huge amount of money, the "Rat" behavior, the same serious harm. Of the "Rat" behavior of employees of various financial institutions, the Commission found that once verified, will resolutely crack down, and punished. Various financial institutions and professionals involved in the capital markets should be alert to the case itself, to perform their duties according to law, adhere to professional ethics, away from the "Rat" and other illegal activities.
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