BEIJING, Dec. 16 (Xinhua) -- China's securities regulator have punished three individuals for illicit stock and securities trading.
The China Securities Regulatory Commission (CSRC) has imposed fines totaling 1.05 million yuan (152,000 U.S. dollars) on three individuals in its latest crackdown on illegal market operations.
The CSRC said in a statement that the commission had always maintained a tough stance against market violations. It ordered industry employees to "keep a distance from red line of the law," in order to protect the interests of investors.
Thanks to the enhanced crackdown, cases of rat trading, known as front-running in U.S. and European markets, slumped 50 percent year-on-year in the first half of 2018, CSRC data showed.
The commission has vowed continued efforts to prevent financial risks and foster a healthy investment environment. The country's two major stock exchanges have released rules to force companies to exit the equity market for serious law violations.
