国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Markets

Firms punished for illegal trading

By Li Xiang (China Daily) Updated: 2015-09-12 11:58

Four securities firms and a futures brokerage have been fined a combined 178.5 million yuan ($28 million) for carrying out what China's securities watchdog called illegal trading activities which contributed to the recent stock market volatility.

The China Securities Regulatory Commission also confiscated 62.4 million yuan in illegal earnings of the five companies, which included Haitong Securities Co Ltd, Huatai Securities Co Ltd, Founder Securities Co Ltd, GF Securities Co Ltd and Zheshang Futures Co Ltd.

The action follows a crackdown by the authorities on illegal stock financing and trading after dramatic falls in the country's stock exchanges since mid-June.

Deng Ge, spokesman for the CSRC, said the five companies failed to check and verify the identities of clients and knowingly provided services for unqualified investors through a system developed by Hundsun Technologies Inc, a financial software company backed by the e-commerce giant Alibaba Group Holding Ltd.

Deng said their practices violated securities regulations that require the use of real names and identification cards to open stock accounts and trade shares.

Earlier this month, the regulator fined Hundsun Technologies and two other financial software companies 398.6 million yuan for applying the operating systems that allowed investors to trade stocks under false names.

The HOMS system is a stock trading software that divides one registered account into many sub-accounts. The function was used by some online margin lenders and securities brokerages to offer highly leveraged funds to investors to trade stocks without real-name registration.

Funds worth trillions of yuan are believed to have been channeled through the system, which fueled the frenetic rally in the stock market prior to its recent correction, analysts have said.

The regulator revealed it has also fined two individual investors a combined 35.2 million yuan for market manipulation through "spoofing" - a practice of quickly placing and canceling orders to influence stock prices and to reap profits.

Hot Topics

Editor's Picks
...
龙泉市| 酒泉市| 临邑县| 舒兰市| 泽普县| 惠来县| 辽阳市| 新龙县| 延寿县| 祥云县| 洞头县| 银川市| 绍兴市| 剑川县| 黎城县| 新兴县| 中宁县| 盖州市| 禹州市| 和政县| 鄂尔多斯市| 山西省| 章丘市| 得荣县| 通道| 金门县| 宣汉县| 女性| 长海县| 宁阳县| 湘潭县| 盐亭县| 昭觉县| 浪卡子县| 车致| 永济市| 建平县| 都昌县| 岳西县| 福安市| 奉化市|