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China says to strengthen regulation of securities trade

(Xinhua)
Updated: 2008-11-08 11:09

The China Securities Regulatory Commission (CSRC) said it would not only impose administrative penalties on illegal activities in securities trade, but also hand over severe criminal cases to the police.

It said on Friday that by the end of September, the investigation team of the commission had completed inquiry into 66 cases that involves illegal activities in securities trade this year.

These cases involved insider trading, market manipulation and violation of information disclosure regulations.

The CSRC has imposed 43 administrative punishments, confiscating 153.18 million yuan ($22.53 million) of illegal income and fining 146.66 million yuan.

The commission also revoked the securities business licenses of 13 people and banned two people from engaging in securities fund business.