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The Case of "Investor Protection, Clear Rules and Risk Recognition": Leaking the Information is not a trivial matter, but also a loss of money and money.

2019-07-24 17:07
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The Case of "Investor Protection, Clear Rules and Risk Recognition": Leaking the Information is not a trivial matter, but also a loss of money and money.
In the capital market, many investors are keen to listen to all kinds of "gossip" and "insider news" and use them as the basis for buying and selling stocks. Some investors believe that insider trading is not harmful, as long as they get insider information, they can make a big profit in the stock market. Others argue that the use of insider information to make money will be punished, and no legal liability is required for the loss of money. But is that really the case? Let's look at the following cases.
Wang Moumou, then the financial director of X Group (state-owned enterprises), participated in the process of major asset reorganization of A listed company controlled by X Group. After getting the inside information, Wang Mou-mou disclosed to Zhao Mou-mou the great advantage of asset reorganization of A Company in his telephone contact with Zhao Mou-mou of Faxiao. Zhao Moumou immediately used his account to invest 225,300 yuan to buy 27,200 shares of A company stock, waiting for the stock price to rise. However, contrary to expectations, the news of the failure of asset restructuring came. Stealing chicken does not erode rice, Zhao Mou not only did not make money, but also lost 394,000 yuan. More unexpectedly, the SFC will have a clear understanding of the insider trading situation through investigation afterwards. According to the provisions of Article 76 of the Securities Law, the insider of securities trading and the person who illegally acquires the insider information shall not buy or sell the securities of the company, disclose the information or recommend others to buy or sell the securities before the insider information is made public. Wang Moumou leaked insider information, Zhao Moumou engaged in insider trading violations of the provisions of Article 76 of the Securities Law, has constituted the insider trading situation described in Article 202 of the Securities Law, waiting for them to be fined 40,000 yuan respectively.
Coincidentally, Bao also suffered from insider trading. Bao Mou was the chief accountant of H listed company at that time. After learning that H listed company intends to inject mining assets, he disclosed the information to his friend Feng Mou by telephone. Feng Mou-mou immediately bought H listed company stock through his wife's account and other people's account after he learned the news, and made a total profit of 18,000 yuan. Nevertheless, the vast and negligent nature of Tianwang will inevitably lead to legal sanctions for this illegal act. Finally, the SFC imposed a fine of 300,000 yuan on Bao and Feng respectively.
Securities market participants should be vigilant against insider trading. On the one hand, directors, supervisors and senior managers of listed companies and their affiliated companies, as insider informants, are obliged to keep the insider information confidential. If you take it lightly, leaking insider information for the sake of so-called buddies'morality may not only lose your job, but also lead to disgrace and disgrace. On the other hand, investors, as people engaged in securities trading, should not listen to "gossip" at will. Even if some information is conclusive, because of the complexity and randomness of the securities market, using insider information to engage in securities trading may still lead to meat cutting and loss. Furthermore, insider trading is an illegal act severely cracked down on by the securities market. Even if the insider trading loses money, it still needs to bear legal responsibility. According to the Provisions of the Supreme People's Procuratorate and the Ministry of Public Security on the Criteria for the Prosecution of Criminal Cases under the jurisdiction of Public Security Organs (2), if the total amount of securities trading is over 500,000 yuan, or the total amount of profit (to avoid loss) is over 150,000 yuan, it will also constitute the crime of insider trading and be investigated for criminal offence. Responsibility. There are many cases of capital market giants who were once in jail for insider trading, which is thought-provoking. Many people who engage in insider trading often take chances and think that they are not aware of the ghost, but they do not know that the regulatory authorities have a strict system of prevention and control, and insider trading can not escape the law. This reminds investors that insider information is an unspeakable secret and insider trading is an untouchable red line. If we keep the bottom line of the law, we will also keep our right to engage in securities trading fairly.