BEIJING — China’s securities watchdog imposed a record-high amount of fines in 2018 to punish market irregularities and prevent financial risks.
Fines and confiscations totaled 10.641 billion yuan ($1.55 billion) last year, up 42.28 percent year-on-year, the China Securities Regulatory Commission (CSRC) said on Jan 4.
The regulator issued penalties in 310 cases while banning 50 people from entering the securities market again, up 38.39 percent and 13.64 percent respectively.
Insider trading took the lion’s share of the penalized cases, followed by illegal information disclosure and market manipulation.
Liu Shiyu, head of CSRC, visited the agency’s inspection bureau and team on Jan 5, urging them to use the latest technologies to enhance inspection capabilities.