Securities practitioner Zong Jianshu banned from market for 5 years for fabricating tax adjustment rumors
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On September 11, the China Securities Regulatory Commission (CSRC) issued Administrative Penalty Decision No. [2026] 37, concluding an investigation into securities practitioner Zong Jianshu for fabricating and disseminating false information. The investigation found that on December 16, 2025, Zong fabricated information about tax rate adjustments and posted it in a WeChat group. The information was verified as false. As a securities practitioner, Zong failed to exercise necessary duty of care by not verifying the information's authenticity before dissemination, causing the false information to spread on internet platforms and disrupt the securities market. Zong obtained no illegal gains from the conduct. The CSRC imposed a five-year market ban on Zong, prohibiting him from engaging in securities business or serving as a director, supervisor, or senior executive at any securities issuer during the ban period.
Source report
Beijing, September 11 — The China Securities Regulatory Commission (CSRC) has imposed a five-year market ban and other penalties on securities practitioner Zong Jianshu for fabricating and disseminating false information, according to Administrative Penalty Decision No. [2026] 37.
Key Findings
The CSRC investigation confirmed the following illegal conduct:
- Fabrication and dissemination of false information: On December 16, 2025, Zong Jianshu fabricated information regarding tax rate adjustments and posted it in a WeChat group. Upon verification, the information was found to be false.
- Disruption of the securities market: As a securities practitioner, Zong failed to exercise necessary duty of care. Without verifying the authenticity of the information, he fabricated and disseminated false content, which subsequently spread widely across internet platforms and disrupted the securities market.
Penalties
Zong Jianshu obtained no illegal gains from the above conduct. The CSRC decided to impose a five-year market ban, effective from the date the decision is announced.
During the ban period, Zong Jianshu is prohibited from:
- Continuing to engage in securities business or securities service business at his original institution
- Serving as a director, supervisor, or senior executive of the original securities issuer
- Engaging in securities business or securities service business at any other institution
- Serving as a director, supervisor, or senior executive of any other securities issuer
Source
thsEastern