xi's moments
Home | Finance

China Merchants Bank employees under investigation by CSRC

chinadaily.com.cn | Updated: 2024-02-09 13:09

The China Securities Regulatory Commission (CSRC) said on Friday that it has recently conducted thorough investigation which involved inspections, law enforcement actions, and routine supervision to address various illegal activities which allegedly include stock trading, by numerous employees of China Merchants Securities.

The CSRC said it has employed a multifaceted approach and applied measures such as criminal accountability, administrative penalties, administrative supervision, and internal accountability.

Administrative penalties were levied against 63 individuals, resulting in a fine totaling 81.73 million yuan, with one person receiving a lifetime ban from the securities market. Additionally, one individual suspected of insider trading was referred to judicial authorities for further action.

Furthermore, administrative supervision measures were imposed on 46 individuals. Among them, 3 were deemed unsuitable candidates, 5 underwent supervisory interviews, and 38 received warning letters.

The CSRC also took administrative supervision measures against China Merchants Securities, including ordering increased compliance inspections, issuing a warning letter to the company's chairman, and conducting supervisory talks with two former compliance directors.

The CSRC is overseeing China Merchants Securities' internal accountability process, ensuring that all violators are interviewed and held accountable.

Global Edition
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349