Wire flash
Three individuals fined 8 million yuan for market manipulation, banned from securities market
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
The China Securities Regulatory Commission (CSRC) has imposed a total fine of 8 million yuan on three individuals—Chen Huan, Zhou Houlu, and Li Pingping—for manipulating the securities market. According to a CSRC administrative penalty decision, between February 20, 2023, and August 1, 2024, the trio controlled multiple securities accounts belonging to others. They used methods such as concentrating capital and shareholding advantages to continuously trade, and conducted transactions between accounts they controlled, thereby influencing the prices and trading volumes of related stocks. The CSRC determined that these actions violated Article 192 of the Securities Law, which prohibits market manipulation. The fines were allocated as follows: Chen Huan was ordered to pay 3 million yuan, Zhou Houlu 2 million yuan, and Li Pingping 3 million yuan. Additionally, due to the severity of their violations, the CSRC imposed a three-year ban on securities trading for Chen Huan and Li Pingping, and a two-year ban for Zhou Houlu. The bans prohibit them from directly or indirectly trading any listed or listed securities on the stock exchange.
Source report
Beijing – The China Securities Regulatory Commission (CSRC) has imposed a total fine of 8 million yuan on three individuals—Chen Huan, Zhou Houlu, and Li Pingping—for manipulating the securities market, according to a recently disclosed administrative penalty decision.
Details of the Violation
Between February 20, 2023, and August 1, 2024, Chen Huan, Zhou Houlu, and Li Pingping controlled and used multiple securities accounts belonging to others. They engaged in the following manipulative practices:
- Concentrating capital and shareholding advantages to conduct continuous buying and selling
- Trading between accounts under their own control
These actions affected the prices and trading volumes of relevant stocks. The CSRC noted that no illegal gains were obtained from the transactions.
Legal Basis and Penalties
The CSRC determined that the conduct of Chen, Zhou, and Li constituted securities market manipulation as defined under Article 192 of the Securities Law of the People's Republic of China.
Based on the facts, nature, circumstances, and social harm of the violations, the CSRC decided to impose a total fine of 8 million yuan, allocated as follows:
- Chen Huan: 3 million yuan
- Zhou Houlu: 2 million yuan
- Li Pingping: 3 million yuan
Trading Bans Imposed
Given the severity of the violations, the CSRC also imposed market trading bans:
- Chen Huan and Li Pingping: Prohibited from trading in the securities market for 3 years
- Zhou Houlu: Prohibited from trading in the securities market for 2 years
The bans take effect from the date of the CSRC's decision. During the prohibition period, the individuals are not allowed to trade any listed or挂牌 securities directly, under pseudonyms, or through others' accounts.
Editor: Tao Jiyan | Reviewer: Li Zhen | Supervisor: Gu Zheng
Source
大河财立方Eastern
Part of this Story
CSRC Fines Three Individuals 8 Million Yuan for Stock Manipulation Despite Zero Profit