Shandong Securities Regulatory Bureau: three cases tell you insider trading hurt others
With the rapid development of China's capital market, securities and futures trading activities become increasingly active, disclosure of insider information, insider trading and other criminal activities also showed a trend of prone. In the securities market, some insider information insider or by the interests of the drive, or forced by the face of human beings, or for showing off the psychological, or legal awareness is weak, or even no intention to reveal the insider information, the results not only make their own legal sanctions, His friends and family, and ultimately regret it.
Case 1: full of a certain, when the chairman of the Group A, 2013, due to business cooperation to understand the B listed companies to buy assets of foreign investment information. Upon being informed of the insider information, Manchou informed the news of his relatives Sun Moumou and others, and suggested that Sun Moumou trading B listed company stock. After investigation, trial, the Commission finds that Manchou constitutes a "disclosure of information" and "advises others to buy and sell the securities" before the disclosure of the insider information, and is punishable by a fine of $ 100,000, and his relatives, Sun Moumou, The transaction was confiscated illegal income, and impose a fine of 338 million yuan.
Case 2: 2007, the situation by a company commissioned by the company and B listed companies to seek mergers and acquisitions, the spouse Zhang Moumou heard a call at home with someone talking about the insider information, the information told Xu, And suggested that Xu buy B listed companies stock. In this regard, the SFC after investigation that the situation constitutes a pretext information disclosure before the "disclosure of the information" behavior, impose a fine of 30,000 yuan; Zhang Moumou constitute the inside information before the disclosure of information "and" Others to buy and sell the securities "behavior, was punishable by a fine of 30,000 yuan; and Xu Moumou because of insider trading was confiscated illegal income, and was fined 11 million yuan.
Case 3: In 2013, Chen Moumou as a major asset restructuring project A financial adviser members, to participate in the planning of B listed companies and C major asset restructuring matters, as the major asset restructuring project insider information insider. In the insider information sensitive period, Chen Moumou leaked to his teacher Lin Moumou B listed companies major asset restructuring of the insider information, Lin Moumou use of the information on the sale of B listed companies stock, book profit of nearly 14.7 million yuan, this , The Commission to investigate and deal with the case transferred to the public security organs. Judge by the court of first instance, Chen Moumou was sentenced to five years imprisonment and fined 1.35 million yuan; Lin Moumou was sentenced to six years in prison and fined 2.5 million yuan.
The above cases warn us that the disclosure of insider information and insider trading are illegal and prohibited by our law. Any person, any way to disclose or use the insider information, are likely to touch the red line, to pursue legal responsibility.
Relevant legal basis:
Article 76 of the Securities Act provides that "insiders who insider information on securities transactions and persons who have illegally obtained insider information may not trade in the securities of the company or disclose the information before the disclosure of the insider information or advise others to buy and sell the securities." "
Article 202 of the Securities Act stipulates that "an insider of an insider dealing with a securities transaction or a person who illegally obtains an insider's information shall, before the disclosure of information relating to the issue of securities, the transaction or other information which has significant influence on the price of the securities, Or disclose the information, or advise others to buy and sell the securities, be ordered to deal with illegal holding of securities, confiscate the illegal income, and impose a fine of more than five times the fine; , Impose a fine of not less than 30,000 yuan but not more than 600,000 yuan. "The relevant subject is seriously violating the circumstances, even to be held criminally responsible.
Article 180 of the Criminal Law stipulates that "the insider of the securities or futures trading insider or the person who illegally obtains the information of the securities and futures transaction shall have a significant effect on the issue of securities, securities, futures trading or other securities and futures trading If the information has not been made public, buy or sell the securities, or engage in futures transactions related to the insider information, or disclose the information, or express, imply that others engaged in the transaction, the circumstances are serious, A fine of not less than five times but not more than five times the amount of the illegal income, Insider information insider to adhere to the confidentiality of responsibility, Mo for the petty profits and ruined personal and family happiness.
In this regard, the Shandong Securities Regulatory Bureau also reminded the majority of investors, is the so-called "Mo hand, hand will be caught," investors should keep their eyes, establish legal awareness, insist on rational investment, do not believe the so-called "insider" Inquire, disseminate and use the insider information, we must resolutely resist insider trading and other illegal activities, and jointly safeguard the capital market open, fair and just a good order. (Transferred from Shandong Securities Regulatory Bureau)