The China Securities Regulatory Commission (CSRC) has confiscated illegal earnings and imposed enormous fines on people involved in an insider trading case.
Three people were named in a statement issued by CSRC: they would take advantage of the knowledge of a series of acquisitions by Shenzhen Hengkang Medical Group Co. ..
Ltd. Liu Yuejun, the actual controller of a hospital in the Sichuan province of southwest China, would buy Hengkang Medical shares through the other stock accounts before the hospital sold its treatment center at Hengkang Medical. In the same way, Wang Guoxiang e Xue Bingyuan, both would have benefited from Hengkang Medical's acquisition inspection information.
Their illegal earnings will be confiscated and sanctioned with heavy fines.
In the first eight months, the China Securities Regulatory Commission strengthened oversight of trading activities and issued additional fines against illegal operators for a sum that now stands at nearly 7 billion yuan, up by 141 for one hundred a year.