Guotai Junan Securities General Manager Fined 530,000 Yuan for Insider Trading
Zhou Jingjie, the general manager of the Yongzhou Meiwan Road Securities Sales Department of Guotai Junan Securities Co., Ltd., has been slapped with a hefty fine of 530,000 yuan for using undisclosed information to hint to others to conduct related transactions and illegally buying and selling stocks.
The judgment reveals that Zhou used his authority to inspect the securities business opened in the business department, including undisclosed information on transactions, positions, and other securities accounts of 17 private equity fund products. This occurred during his tenure from December 27, 2016 to March 31, 2023, as general manager.
The Securities Regulatory Bureau discovered that starting from December 2019, Zhou violated industry regulations by providing transaction information of a private equity fund product to another individual upon their request, despite being aware of their intent to use the undisclosed information for trading activities.
It was found that the undisclosed information was used to conduct securities transactions based on decisions related to the private securities investment funds “Juming Gaoshan No. 1” and “Mosha Select No. 9”.
Additionally, Zhou was found to have used his wife’s securities account to buy and sell stocks multiple times, with the transaction amount totaling over 3.12 million yuan.
As a result of these illegal activities, the Guangxi Securities Regulatory Bureau imposed a fine of 530,000 yuan on Zhou Jingjie.
Guotai Junan Securities has not responded to inquiries regarding whether the illegal behavior is related to management loopholes.
The case serves as a reminder of the serious consequences of insider trading and the importance of maintaining ethical standards in the financial industry.
Editor in charge: Fang Xiao