CSRC: Zero tolerance on insider trading

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Chairman of the China Securities Regulatory Commission, Guo Shuqing, says the securities regulator is taking a "zero tolerance" approach towards insider trading, and other securities infringements.

Speaking at the 9th Financing Forum for Small and Medium-sized Enterprises, chairman of Chinas top securities regulator, Guo Shuqing, says the Commission is taking a zero tolerance approach on insider trading. He also warns, the Commission would hand out serious penalties for every single case of insider trading it comes across.

Guo Shuqing said: "And here wed like to reiterate seriously that the CSRC has and will always take a zero tolerance approach to insider trading and security market crimes. There will be serious repercussions for each case we discover."

Guo outlined two kinds of insider trading cases: people use their privilege and connections to benefit from dishonest transactions, and others who are not aware insider trading is equivalent to bribery and theft.

Guo Shuqing said: "If a thief steals in a market, people would be angry. But they sometimes ignore the fact that insider trading is like stealing too. This is the most difficult part of cracking down on security market crimes. "

Guo warns, low income earners and pensioners should be better aware of the risks of trading on Chinas securities market. He recommends, they should direct their money to low-risk investment options, and savings accounts.

Editor:Zhang Rui |Source: CNTV.CN



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