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China’s securities regulator tackles illegal operations

Updated: Aug 29,2015 2:44 PM     Xinhua

BEIJING — The China Securities Regulatory Commission (CSRC), the country’s securities watchdog, has submitted a new batch of 22 cases of suspected illegal stock market operations to the Ministry of Public Security (MPC).

CSRC spokesperson Zhang Xiaojun said at a press conference on Aug 28 that the cases involve suspected market manipulation, insider trading, fake information and illicit business, involving huge profiteering.

The commission has submitted 48 such cases to the MPC in total.

Zhang said the CSRC has been tackling illegal securities operations to stabilize the market and protect the rights of investors.

He also revealed that CSRC Chairman Xiao Gang has presided over a meeting about discipline inspections attended by the heads of securities exchanges as well as their affiliated companies and institutions.

The chairman demanded strict supervision and no abuse of power. Anyone violating disciplines will be punished.