"Investor protection rules, knowledge risk" case - respect for teachers have a way not to "insider" newspaper teacher
Asset restructuring, asset injection, acquisition of assets and other listed companies major investment behavior and major property disposal decisions, often by the capital market as a significant good news. Many investors like to inquire about such news, that rely on these so-called "insider information" stocks can get huge gains. But in fact, insider trading is not only not likely to be profitable, insider trading itself is prohibited by law.
Has been the media as "the most busy Dong Dong," a university professor Song, in an insider trading to pay a huge price. He according to their previous students Chen know the insider information to buy stocks, not only did not make money, but a loss of 41 million yuan, and eventually by the SFC severely punished.
Chen M company for the M & A reorganization project to do the intermediary, Song and Chen phone contact, before the company stock suspension, buy 93.1 million shares of G company stock, worth about 716.3 million. Although Song M shares in the company before the suspension of the first "latent" into, but never imagined that the two sides failed to reach an agreement on important matters, decided to terminate the reorganization. As the market expected a major reorganization of the matter to nothing, after the resumption of trading, the stock price frustrated, Song sold, the loss of 41 million yuan.
Respect for teachers have a way, do not "insider" newspaper teacher grace. Teacher did not report, but let the teacher lost money. Not only that, Song's behavior also violated the "Securities Law" on the ban on insider trading behavior, escape the law of the sanctions. In accordance with the provisions of Article 73 and Article 76 of the Securities Law, insiders and insiders who obtain illegal information are not allowed to buy or sell securities of the company before the insider information is made public. "The Supreme People's Court, the Supreme People's Procuratorate on the insider trading, disclosure of insider information on criminal cases specific application of the law a number of issues explained" Article 2 also provides that within the sensitive period of insider information, contact with insider information, contact, The insider information related to the securities transactions, the relevant transaction behavior is obviously abnormal, and no legitimate reasons or legitimate sources of information, are insider trading. According to the "Securities Law" Article 202, Song was impose a fine of 600,000 yuan and 10 years of securities market ban measures.
This story tells the investor, do not easily believe that the so-called "insider information", not to take the initiative to the relevant staff to inquire about such news. Rush to buy such stocks, both the risk of long-term suspension, but also the risk of asset restructuring failure. More seriously, such as the company's stock price has a significant impact on the "insider information" can not be disclosed in advance, to the insider information to inquire about such information, the use of the information trading behavior of the stock itself is illegal, regardless of the final Whether the profit will be subject to legal sanctions. Therefore, investors should pay special attention to the "insider" contained in the investment risk and legal risks, do not simply "listen to the news", "listen to the story" to buy the so-called assets reorganization of the stock, but can not do everything possible to inquire about "insider" Trading, or should adhere to the value of investment, to establish a correct investment philosophy: the real good stock is not the so-called "news stocks", "concept stocks", but those who have the ability to create good performance, investors can bring a sustained return Company stock.