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China Securities Regulator Fines Three Individuals 8 Million Yuan for Market Manipulation, Bans Them from Trading
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On September 24, 2024, the China Securities Regulatory Commission (CSRC) announced an administrative penalty against three individuals—Chen Huan, Zhou Houlu, and Li Pingping—for manipulating the securities market. Between February 20, 2023, and August 1, 2024, the trio controlled multiple securities accounts belonging to others, using concentrated capital and shareholding advantages to conduct continuous buying and selling, as well as trading between accounts under their actual control, thereby influencing the prices and trading volumes of related stocks. The CSRC imposed a total fine of 8 million yuan on the three, with Chen Huan and Li Pingping each fined 3 million yuan, and Zhou Houlu fined 2 million yuan. Additionally, the regulator imposed a ban on securities market trading for each: three years for Chen Huan and Li Pingping, and two years for Zhou Houlu. The decision was disclosed in an official penalty notice from the CSRC.
Source report
September 24 (Jin10 Data) — The China Securities Regulatory Commission (CSRC) has issued an administrative penalty decision against Chen Huan, Zhou Houlu, and Li Pingping for engaging in stock market manipulation.
Between February 20, 2023, and August 1, 2024, the three individuals controlled and used multiple securities accounts belonging to others. They employed the following tactics to influence the prices and trading volumes of relevant stocks:
- Concentrating capital and shareholding advantages to conduct continuous buying and selling
- Engaging in transactions between accounts under their actual control
The CSRC determined that these actions constituted market manipulation. The penalties imposed are as follows:
- Chen Huan: fined 3 million yuan, banned from securities trading for 3 years
- Li Pingping: fined 3 million yuan, banned from securities trading for 3 years
- Zhou Houlu: fined 2 million yuan, banned from securities trading for 2 years
The total fine imposed on the three individuals amounts to 8 million yuan.
(Source: CSRC)
Source
金十数据Eastern
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CSRC Fines Three Individuals 8 Million Yuan for Stock Market Manipulation