China vows stringent, speedy punishment for stock market offence

Email|Print|Comments       twitter     facebook     Sina Microblog     reddit    

China's securities regulator on Saturday pledged to intensify punishment for severe stock market violations amid rising such offences.

Jiang Yang, vice chairman of China Securities Regulatory Commission (CSRC), told a listed-companies summit that in the first six months, 26 cases had been submitted to investigations, representing a hefty increase from the same period a year ago.

Stricter supervision and enforcement has played a positive role in promoting openness and fairness, and protecting small investors' interests, he noted.

In the next step, Jiang said CSRC will enhance preemptive oversight, streamline its administrative procedures, and rely on laws to regulate the capital market.

In addition to insider trading, CSRC will also enhance crackdown on false information disclosure, listing fraud and illegal activities by brokerages.

Systematic risks are the bottom line that can never be breached, he added.

• China stocks open lower, probe into Everbright Securities continues
• New futures contract launched in Hong Kong
• Analysts gloomy despite stocks' 1.8% rally
• Stocks sink on profit slowdown, audit plan
• Chinese shares jump over IPO delay reports
• U.S. stocks continue to rise
• Stock exchanges see modest gains after June data
• China shares soar over reported stimulous plan
• China's stock markets rebounded on Wednesday
• Shanghai investor sentiment drops, report says

We Recommend

• Panda cub born at U.S. National Zoo
• Top 10 Chinese provinces for the well-heeled
• Fan Bingbing poses for Malaysian magazine Citta Bella
• Fairytale destinations around world
• Wild dream: Hell-like training for bodyguard
• Zhang Xinyi covers COSMOPOLITAN
• China’s weekly story
  (2013.8.3-8.9)
  
• The story of a savior sibling
  
• A collection of bizarre rooftop buildings around China