China's securities watchdog punishes three illegal market operations

BEIJING -- China's securities regulator have punished three individuals for illicit stock and securities trading.

The China Securities Regulatory Commission (CSRC) has imposed fines totaling 1.05 million yuan ($152,000) on three individuals in its latest crackdown on illegal market operations.

The CSRC said in a statement that the commission had always maintained a tough stance against market violations. It ordered industry employees to "keep a distance from red line of the law," in order to protect the interests of investors.

Thanks to the enhanced crackdown, cases of rat trading, known as front-running in U.S. and European markets, slumped 50 percent year-on-year in the first half of 2018, CSRC data showed.

The commission has vowed continued efforts to prevent financial risks and foster a healthy investment environment. The country's two major stock exchanges have released rules to force companies to exit the equity market for serious law violations.