China's securities regulator hands out more fines

Source: Xinhua| 2017-09-23 20:35:19|Editor: liuxin
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BEIJING, Sept. 23 (Xinhua) -- China's securities regulator has handed out more fines to punish market violations amid tightened financial supervision in the first eight months of the year.

From January to August, the China Securities Regulatory Commission has given fines totaling 7 billion yuan (1.06 billion U.S. dollars), up 141 percent year on year, the commission said.

A total of 38 people were suspended from securities businesses during the period, almost on par with the number for the whole of 2016.

Insider trading was the major violation, with 204 such cases under preliminary investigation or on file, accounting for 46 percent of the total. Violations in information disclosure as well as market manipulation were also among the most common types.

The commission has been toughening supervision and punishment of illegal market activities as the country steps up its crackdown on financial risks this year.

The commission will keep a tough stance in its inspections and law enforcement, and have zero tolerance for illegal activities and market violations, it said.