SEC reports two short-term trading cases St high-tech Vice-President punished

The SFC held a news briefing yesterday to inform Chengdu High-Tech Development Co., Ltd. (St High-Tech) Deputy general manager Wang Fengshun Short-term trading and personal investors Chen short-term manipulation of two cases of investigation results.　　Among them, Wang Fengshun use their brother account, in the limited period of short-term trading "St High-tech" stocks, was sentenced to a warning and a fine of 30,000 yuan.　　CSRC officials said that the SFC will further increase supervision, short-term manipulation and a variety of new operations to maintain the high-pressure situation, and remind listed companies and shareholders more than 5% of the shareholder, should strictly abide by the law, not engaged in short-term transactions and other illegal acts. Executive short-term trading of their own stock losses 320,000 according to the relevant departments of the SFC, Wang Fengshun use his brother's account, from January 2008 to January 2009, has entrusted to buy St High-tech 31, a total of 439090 shares, respectively commissioned to sell 24 pens, the above 439090 shares are sold,　　Cumulative loss of more than 320,000 yuan. The Securities Act expressly stipulates that directors, supervisors, senior managers of listed companies and shareholders with more than 5% per cent of the shares of listed companies are prohibited from selling or buying back the shares of listed companies within six months of purchase or within six months after their sale.　　For violation of the provisions of short-term transactions, in addition to the proceeds of the listed companies, will also face more than 30,000 yuan or more than 100,000 yuan below the fine. The person in charge pointed out that since the Wang Fengshun did not make a profit during the short trading period from 2008 to 2009, it was only warned and fined, and if it profited, it might have to investigate further the transaction and determine whether the transaction involved insider trading, "in the present circumstances,　　The king's doing his own shooting.　　Short-term manipulation of illegal income 4.35 million was confiscated in the Securities and Futures Commission announced Chen short-term manipulation market case, the parties in the period from August 2009 to November, in a short period of time to concentrate on the advantages of capital, take the plate to pull the stock price, false declaration, a huge pile of bills in the tail plate and other ways to manipulate the market, affecting the stock price, and high shipping profit.　　The SFC concluded that Chen's conduct violated the relevant provisions of the Securities Act, confiscated 4.35 million yuan of illegal income and fined the corresponding amount. The person in charge of the Act violates the principle of "three public", disrupts the order of the securities market and infringes on the legitimate rights and interests of investors, which has serious harmfulness. In the future, the SFC will further strengthen supervision, in conjunction with the stock exchange, short-term manipulation and a variety of new types of operation to maintain a high-pressure situation, closely monitor and crack down to maintain market order and effectively protect the legitimate rights and interests of investors. Responsible Editor: NF045