China Daily, July 9th (Reporter Zhou Lanxu) The China Securities Regulatory Commission stated at its regular press conference on July 9 that the next step will be to resolutely implement the “Opinions on Strictly Cracking Down on Securities Illegal Activities in accordance with the Law” and severely investigate and punish manipulation. Market and insider trading, etc., focus on market manipulation in the name of so-called market value management.
Chen Jie, deputy director of the Inspection Bureau of the China Securities Regulatory Commission, said that market manipulation and insider trading have severely disrupted market order, severely interfered with the functioning of the market, and seriously violated the legitimate rights and interests of investors. These have always been the focus of the inspection and enforcement of the Securities Regulatory Commission and severe crackdowns.
Since 2020, the China Securities Regulatory Commission has initiated 90 market manipulation investigations and 160 insider trading cases, accounting for 52% of the new cases in the same period.
In the next step, the China Securities Regulatory Commission will resolutely implement the “Opinions on Strictly Cracking Down on Illegal Securities Activities in accordance with the Law” issued by the Central Office and the State Council, implement the “zero tolerance” work policy, and focus on the overall supervision of preventing and resolving financial risks and protecting the legitimate rights and interests of investors , Pay close attention to market dynamics, pay close attention to account linkage, pay close attention to abnormal transactions, strictly investigate and punish behaviors such as market manipulation and insider trading in accordance with laws and regulations, continue to purify the market ecology, and provide a strong legal guarantee for the high-quality development of the capital market.
In particular, Chen Jie said that the collusion of listed companies and actual controllers with inside and outside manipulating gangs to manipulate the company’s stock price in the name of so-called market value management is one of the typical modes of market manipulation. This type of operation involves more subjects, the chain of violations is longer, and the market is more harmful. I will always regard it as the focus of market manipulation, and the relevant subjects involved in the case will be the focus of monitoring, heavy blows, and focus on accountability. Object.
Since 2020, the China Securities Regulatory Commission has verified 15 cases of market manipulation in the name of so-called market value management, accounting for 18% of all market manipulation cases verified during the same period.
In the next step, Chen Jie stated that the China Securities Regulatory Commission will take the opportunity to fully implement the “Opinions on Strictly Cracking Down on Illegal Securities Activities in accordance with the Law” as an opportunity to focus on market manipulation in the name of so-called market value management, and strengthen administrative law enforcement and criminal justice. To strengthen the comprehensive and three-dimensional accountability, increase the cost of violations, and strengthen the deterrence of law enforcement.