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Three Individuals Fined 8 Million Yuan for Market Manipulation, Banned from Securities Market
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China's securities regulator, 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 an administrative penalty decision disclosed by the CSRC on September 24, the three individuals controlled and used multiple securities accounts belonging to others between February 20, 2023, and August 1, 2024. They employed tactics such as concentrating capital and shareholding advantages to conduct continuous trading, as well as trading between accounts they controlled, to influence the prices and trading volumes of related stocks. The CSRC fined Chen Huan and Li Pingping 3 million yuan each, and Zhou Houlu 2 million yuan. Additionally, the regulator imposed a ban on securities trading for three years on Chen Huan and Li Pingping, and a two-year ban on Zhou Houlu.
Source report
September 24 — The China Securities Regulatory Commission (CSRC) has issued an administrative penalty decision against three individuals — Chen Huan, Zhou Houlu, and Li Pingping — for engaging in securities market manipulation.
According to the CSRC, between February 20, 2023, and August 1, 2024, the three individuals controlled and used multiple third-party securities accounts. They employed the following manipulative tactics:
- Concentrating capital and shareholding advantages to conduct continuous buying and selling
- Executing trades between accounts under their actual control
These actions affected the prices and trading volumes of relevant stocks, constituting securities market manipulation.
The CSRC has imposed the following penalties:
- Total fine: 8 million yuan
- Chen Huan: fined 3 million yuan
- Li Pingping: fined 3 million yuan
- Zhou Houlu: fined 2 million yuan
- Trading bans:
- Chen Huan and Li Pingping: banned from securities trading for 3 years each
- Zhou Houlu: banned from securities trading for 2 years
Source
财联社Eastern
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CSRC Fines Three Individuals 8 Million Yuan for Stock Manipulation Despite Zero Profit