With the rapid development of China's capital market, securities and futures trading activities have become increasingly active, and leakage of inside information, insider trading and other illegal and criminal activities have also shown a tendency to occur frequently. In the securities market, some insiders who are insiders are driven by interests, forced by human face, or show off, or have weak legal consciousness, or even unintentionally leaked inside information. As a result, they are not only punished by law, but also harmed. I regretted my own friends and relatives.
Brief description of the case:
Case 1: Man Moumou, then the chairman of Group A. In 2013, he learned about the information on the overseas investment and acquisition of assets of listed company B due to business cooperation. After learning this inside information, Man Moumou informed his relatives Sun Moumou and others and suggested that Sun Moumou buy and sell B listed company stocks. After investigation and trial, the CSRC found that Man Moumou constituted "leaking the information" and "suggesting others to buy and sell the securities" before the disclosure of inside information, and was fined 100,000 yuan. The transaction was confiscated, and a fine of more than 3.38 million yuan was imposed.
Case 2: In 2007, Kuang was entrusted by Company A to seek a merger and reorganization with listed company B. His spouse, Zhang Moumou, heard the inside information of Kum Mou talking to someone at home, and then told the relevant information to Xu. And suggested that Mr. Xu buy the stocks of listed company B. In response to this, the CSRC's investigation found that Kumou constituted a “disclosure of the information” before the disclosure of inside information and was fined 30,000 yuan; Zhang Moumou constituted a “disclosure of the information” before the disclosure of the inside information and “suggest "The other person bought or sold the securities" was fined 30,000 yuan; Xu Moumou was confiscated for illegal gains and was fined more than 110,000 yuan for insider trading.
Case 3: In 2013, as a financial advisory member of Company A's major asset restructuring project, Chen participated in the planning of a major asset restructuring of listed company B and company C and became an insider of this major asset restructuring project. During the sensitive period of inside information, Chen Mou leaked to his teacher Lin Moumou the inside information of the major asset reorganization of B-listed company. Lin Moumou used the information to buy and sell the shares of B-listed company. The CSRC investigated and dealt with the case and handed it over to the public security organs. After the first trial of the court, Chen Moumou was sentenced to five years in prison and fined 1.35 million yuan; Lin Moumou was sentenced to six years in prison and fined 2.5 million yuan.
The above cases warn us that the disclosure of inside information and insider trading are illegal and criminal acts strictly prohibited by Chinese laws. Anyone who leaks or uses inside information in any way may touch the red line and be held legally responsible.
Relevant legal basis:
Article 76 of the Securities Law stipulates that "informers of insider information of securities transactions and persons who illegally obtain insider information shall not buy or sell the company's securities or disclose such information or advise others to buy or sell the securities before the insider information is made public. "
Article 202 of the Securities Law stipulates that “a person who knows inside information of a securities transaction or obtains inside information illegally, before the disclosure of securities issuance, trading, or other information that has a significant impact on the price of the securities, Whoever leaks this information, or advises others to buy or sell the securities, is ordered to deal with illegally held securities in accordance with the law, confiscate the illegal income, and impose a fine of one to five times the illegal income; if there is no illegal income or the illegal income is less than 30,000 yuan A fine of 30,000 yuan to 600,000 yuan shall be imposed. "If the relevant subject has serious violations of the law, even criminal responsibility shall be investigated.
Article 180 of the Criminal Law stipulates that "informed personnel of insider information of securities and futures trading or persons who illegally obtain insider information of securities and futures trading shall Before the affected information is publicized, buying or selling the securities, or engaging in futures trading related to the inside information, or leaking the information, or expressly or suggesting that others engage in the above-mentioned trading activities, if the circumstances are serious, the term shall be five years or less. Imprisonment or detention, concurrent or single punishment of one to five times the fine of the illegal gains; if the circumstances are particularly serious, a term of imprisonment of five to ten years and the fine of one to five times the illegal gains shall be imposed. Insiders of inside information must strictly keep the responsibility of confidentiality, and do not bury the happiness of individuals and families for the sake of small profits.
As the so-called "mo stretch out your hand, you will be caught", investors must keep their eyes open, establish legal awareness, insist on rational investment, do not trust the so-called "inside information", let alone explore, spread and use inside information, and firmly resist the inside information Illegal transactions and other acts shall jointly maintain a good, open, fair and just order in the capital market.