Average survey cycle Shortens SEC crackdown on insider trading and market manipulation

The reform of securities inspection system, which began at the end of 2007, has obviously achieved some success.　　May 12, the CSRC provided the latest data show that more than a year, the inspection Corps for more than 150 cases, a single case of the average field investigation cycle from the original 6 months to more than 40 days.　　Under the new audit system, insider trading and market manipulation are still the key points of securities enforcement, meanwhile, with the method and means of illegal crime constantly updated and changed, the strategy of attacking is constantly adjusted.　　The relevant department in charge of the Securities and Futures Commission introduced, the latest found insider trading is no longer by insider information Insider direct operation account to buy and sell stocks, but leaked to others, profit from, market manipulation, the audit department recently focused on the tail city of manipulation, open price manipulation and other forms. Data from the SFC show that from 2008 to the first quarter of this year, the SFC to the public security organs to transfer 19 of criminal clues, including 6 of listed companies, insider trading cases 8, manipulation of the market case 2, illegal operation of securities investment advisory Services 2, financial institutions personnel misappropriation of funds 1.　　Among them, the public security organ to 15 cases case investigation. Focus on open, close operation "Practice shows that under the new audit system, the speed of investigation and punishment of the SFC is greatly accelerated and the efficiency of handling cases is obviously improved."　　"The relevant departments in charge of the SFC so summed up the current audit work."　　He gave the data shows that more than a year, the Inspection Corps to undertake insider trading, market manipulation and other cases of more than 150 pieces, including concentrated force quickly investigated Wang Jianzhong, such as a large number of serious damage to the market high-profile. At the same time, the audit department also according to the market emerging conditions, new problems, and constantly adjust the strategy to combat crime, such as in the market manipulation, is "actively study the tail city of manipulation, open price manipulation, such as the new manipulation of the blow." In fact, prior to the relevant departments of the "market manipulation of the determination method" has listed eight kinds of market manipulation means, are consecutive transactions, agreed to trade, self-purchase sold, bewitched transactions, preemptive transactions, false declarations, specific prices, a specific period of trading.　　Earlier, has investigated the Zhou Jianming short-term trading case, Wang Jianzhong Rob hat Trading and other cases.　　Data show that, as of the first quarter, the inspection Department has 29 cases of suspected market manipulation of the investigation, the official case 15, including the tail of the city operation and the opening price control of the two modes of operation. "The CSRC will make administrative penalties to determine the transfer of the crime to the public security organs, depending on the findings and breaches of the law."　　said the person in charge.　　Important information is still insider trading source The SFC has recently investigated a number of insider trading cases, showing that mergers and acquisitions, shell listing and other important information is still the source of the formation of insider trading. such as Xiamen Chong Hing Real Estate case, that is, the company discussed the directional additional cases occurred during the suspected insider trading, June 2007 China Securities Regulatory Commission on its investigation found that the first, the second largest holding shareholder-Shanghai Ancestral Dragon Development Co. The prescribed unit Insider ExchangeEasy crime. Another case is in November 2008, the SFC in Sichuan, a listed company during the reorganization of the suspected insider dealing case, investigation and discovery, as the reorganization of the two important participants, a commercial bank Jinan branch sales director Li and Shandong Industrial Corporation deputy general manager Zhang in the reorganization of the use of the insider information,　　A large number of transactions in listed companies, the profit is huge, has constituted insider trading crime.　　The more typical case is the backdoor listing, the CSRC recently punished a securities company executive Kim in the operation of the shell in the case of insider trading cases to punish, confiscate the proceeds of insider trading and the equivalent of a fine. According to the information provided by the SFC, at the end of 2006, a major shareholder of the company plans to acquire a listed company, and through the reorganization of assets to carry out the company's shell listing. After the preliminary preparation, January 18, 2007, the major shareholders and institutions of securities companies to determine the listed company's objectives and programs, the securities company to inform the President of the company's assistant gold to contact the relevant personnel.　　January 19 and 22nd, two trading days, the target listed company's stock trading, January 23 morning company suspension, announced that the company has important matters. In accordance with the securities law, the listed companies to acquire the relevant program belongs to insider information, the case inside information formed on January 18, 2007, the price sensitive period of January 18, 2007 to 22nd. Gold January 18 to obtain the information for insider information. Kim opens an account in the name of his mother-in-law, which is financed by a bank account of his or her spouse.　　The account was bought on January 19, 2007 through online transactions to buy 50,000 shares of listed companies, January 22 all sold, a profit of 20,000 yuan. The SFC believes that one and the other is the relationship between the husband and wife, with common property and interests.　　Although the securities account to a mother-in-law in the name of a bank account, but the transaction operation and other relevant evidence has proved that gold and the remainder of a real operator, constitute insider trading. "In the process of merger and reorganization of listed companies, the relevant company executives and other insider information insiders, using the reorganization information to carry out insider trading, violating the three common principles and undermining market integrity, is a major violation of the China Securities Regulatory Commission."　　This reporter according to the above clue inquiry to know, the Securities company for Bohai Securities, its plan backdoor four ring medicine, but later failed to row, this matter at that time also caused widespread concern in the market.　　Data show that from 2008 to the end of March this year, the SFC conducted an informal investigation of 68 insider trading clues, and officially filed 38. According to the person in charge of the case, the alleged crime has been transferred to the public security organs. "With the supplementary provisions on the standard of prosecution of economic cases and the relative introduction of the term of imprisonment, this year the CSRC will further strengthen its cooperation with the courts authorities, increase the inspection of law enforcement and administrative responsibilities, resolutely combat illegal and criminal acts in the securities market, including insider trading, and maintain a stable market development. The official said.