China’s securities toughened punishment on illegal market activities

Vastavam web: China’s securities regulator has toughened punishment on illegal market activities, handing out USD 90 million fines, in the first five months of this year more than what was handed out during 2016.A total of 29 people were suspended from securities business in the five months, the regulator said.In 2016, the CSRC punished 183 illegal market activities and handed out fines of 4.28 billion yuan, up 288 per cent from the 2015 level. Some 38 people were barred from the securities industry.The CSRC has been toughening supervision and punishment of illegal market activities such as insider trading and stock manipulation after the market rout in 2015 shattered investor confidence.