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regulators have once again cracked down on securities practitioners who violate regulations in stock trading.

recently, the beijing securities regulatory bureau issued fines to 21 individuals for illegal stock trading by securities practitioners. another four securities practitioners were issued warning letters for lending securities accounts.

although the regulator did not specifically point out the companies where the above-mentioned individuals worked, according to the china securities association's securities practitioner information disclosure system, only four people's practice information could not be found, and the registration information of the rest could be found at the relevant securities firms.

25 people received fines for illegal stock trading and lending of securities accounts

on september 14, the beijing securities regulatory bureau issued three fines, involving 25 people. in addition, according to the penalty basis mentioned by the beijing securities regulatory bureau, there should be compliance personnel among the parties involved.

specifically, the beijing securities regulatory bureau pointed out that after investigation, 20 people including kou mou and liu mouran, as securities practitioners, had engaged in the buying and selling of stocks. according to relevant regulations, the beijing securities regulatory bureau decided to take administrative supervision measures against the above 20 people by issuing warning letters.

at the same time, the beijing securities regulatory bureau also found that zhuang moubin, as a securities practitioner, had engaged in the buying and selling of stocks, and decided to take administrative supervision measures against him by issuing a supervisory talk. the beijing securities regulatory bureau’s punishment of zhuang moubin is based on article 33 of the “regulations on the compliance management of securities companies and securities investment fund management companies”. the specific content of this clause is that if the person in charge of compliance violates the provisions of these regulations, the china securities regulatory commission may take administrative supervision measures such as issuing a warning letter, ordering training, ordering corrections, supervisory talks, and identifying as an inappropriate candidate.

in addition to the above-mentioned fines, wang mouxuan and four other people, as securities practitioners, were found to have lent securities accounts. in the end, the beijing securities regulatory bureau took administrative supervision measures against wang mouxuan and four others by issuing warning letters.

although the above-mentioned fines did not specify the institutions where the parties worked, according to the names in the china securities association's practitioners' information disclosure system, the above-mentioned fined persons should work at cicc and cicc wealth. among them, only yang mourong, chen mouzhou, wang mouzhou, and wei mouyu could not find their practice information. the other 21 fined individuals can find their registered practice information at cicc or cicc wealth, and the registered categories are investment consulting or general securities business.

cicc was fined for illegal stock speculation by its employees

it is worth mentioning that on april 26 this year, the beijing securities regulatory bureau issued a warning letter to cicc for employees' illegal stock speculation. at that time, the administrative supervision measures decision mentioned that cicc had two problems in compliance management. one was that it hired unqualified personnel to carry out related securities business. the other was that many employees had engaged in the buying and selling of stocks and lending of personal securities accounts, and the company did not monitor and control the behavior of employees properly.

the beijing securities regulatory bureau stated that cicc should take this as a warning, carefully identify and rectify problems, strengthen behavioral management of practitioners, and effectively improve the level of compliance management to prevent such problems from happening again.

in the 2024 semi-annual report, cicc responded to the rectification measures of the above administrative supervision measures. cicc said that the company strengthened the control mechanism of employee qualifications and employees' illegal stock trading, strengthened the comprehensive monitoring of employees' trading behavior, and took compliance supervision measures or transferred the company to the company for accountability for the problems of unqualified business and illegal stock trading. the company has completed the rectification of the above-mentioned problems.

from the perspective of the entire industry, the batch of fines issued by the beijing securities regulatory bureau also demonstrates that the supervision continues to strengthen the investigation and punishment of securities practitioners who violate the rules in buying and selling stocks. since the beginning of this year, dozens of fines related to this have been issued. just a month ago, the china securities regulatory commission disclosed a fine: cao mouchen, a practitioner of kaiyuan securities, used his mobile phone and home computer to buy and sell stocks in the name of others, and lost 770,300 yuan. in the end, cao mouchen was fined 200,000 yuan.

at the beginning of the year, the china securities regulatory commission mentioned in "adhere to "zero tolerance" law enforcement and focus on handling illegal stock trading by multiple practitioners" that from 2019 to 2023, a total of 67 cases of illegal stock trading by practitioners were investigated and handled, and 139 people were given administrative penalties, focusing on building a long-term mechanism for "not daring, not being able, and not wanting" to trade stocks illegally. the next step will be to strengthen supervision from three aspects: improving the system mechanism, strengthening supervision and law enforcement, and continuously purifying the industry ecology.

since the beginning of this year, brokerage firms have also strengthened their internal monitoring, self-examination and accountability mechanisms for employees. according to a report by a china securities journal reporter in early july, on the basis of the original information filing, some brokerage firms have further strengthened compliance requirements, and strictly managed the stock account information of employees and their relatives by extending the verification period and expanding the scope of filing.