The Strongest Regulatory Storm In History Is Getting Stronger And Stronger In China'S Capital Market.

The company announced that Xu Gang, the 8 chief of CITIC Securities, and Liu Shufan, the director of the issuance of the securities and Futures Commission, the former director Ouyang Jiansheng of the securities and Futures Commission, and Wang Xiaolu, the finance minister, were taken away by the public security organs. By August 28th, a spokesman for the securities and Futures Commission said that they had recently pferred to the Ministry of public security 22 cases of criminal cases suspected of manipulating the market, internal pactions, and fabricating false information; and by September 15th, general manager Cheng Boming, head of operations and management of the CITIC Securities Department, Wang Jinling, etc., deputy director of the information technology center, were investigated by the public security organs according to law. From August 25th to Xinhua

Slightly combing, it is found that the more intense supervision storm has two characteristics: first, the higher level of investigation and management, including the personnel involved, from the department level to the bureau level to the quasi Deputy ministerial level. Zhang Yujun is the highest ranking official who has been sacked by the Securities Regulatory Commission since the "Eighteen big ones". He is also the highest ranking among the current securities regulatory officials, including the handling organ, from the Securities Regulatory Commission to the Ministry of public security, and then to the Central Commission for Discipline Inspection.

Two, the proportion of Insider Crime is very high, and the amount is huge.

The public security department and the Central Commission for Discipline Inspection directly investigated and dealt with crimes committed by insiders in addition to the case of Wang Xiaolu. In fact, as a securities reporter, Wang Xiaolu was closely related to "insiders".

In the 22 crimes pferred by the SFC, 16 of the crimes committed by insiders (including securities companies, fund companies, listed companies, Asset Management Co) accounted for 3/4.

Among them, 6 listed companies collude with other industry personnel, 4 from securities companies, 3 from fund companies, 1 from listed companies, 1 from Asset Management Co, and 1 from other practitioners.

For example, "Zhang Mou and others are suspected of manipulating the market case", which is the most expensive and illegally obtained billions of dollars. Zhang is a shareholder of the listed company. He colluded with the professional trader hand Kong, manipulated the information release of the listed company, raised the stock price, and illegally made profits after the high position of the company's stock holdings.

There is no doubt that combating Insider Crime has become the top priority in investigating securities crime and purifying the securities market.

We have been told for a long time that insider crimes are mostly listed companies.

Inside and outside collusion, profiteering by manipulating share prices or insider trading is the "self monitoring" of the SFC, including Wang Yi, who served as vice chairman of the securities and Futures Commission. He also used his power to help himself or herself by helping one or several listed companies to make profits (or IPO, or major reorganization).

If a listed company colluded with some insiders, it would depend on one or more.

Wealth is the only thing that hurts the interests of a company's stockholders, and the policymakers like Zhang Yujun and Cheng Boming are the wealth of the entire market. They are "stocks difficult to finance" and national financial difficulties, which are the interests of hundreds of millions of investors.

For example, like the subjects in the examination room, they must be completely isolated from the outside world after the question is given, until they are able to return home after the examination.

In this time

The "insider" exposed in Zhang Yujun and CITIC Securities nest is quite different from before.

They are very few people who have the right to formulate policies, publish policies and get the first policy. They are the commander in chief of the rescue market and the main force and backbone of the national team to save the market.

Everyone knows that China's stock market is still a policy market so far. Policy is a huge sum of money for every market participant.

Zhang Yujun and CITIC Securities case have brought a new topic to the fight against securities crimes: what kind of guilt should they bear when they are using the information advantage to gain personal benefits and bring great impact and volatility to the market? Nowadays, the state has spent 1 trillion and 500 billion bailouts, and not only the state funds have been set up, but the market value of billions of investors has been destroyed, so far, the market can not recover. This is by no means a general insider trading or disclosure of insider information, and is not a dereliction of duty.

From the point of view of system construction and preventive measures, people in the regulatory center should have a certain term of service.

Is it not that Zhang Yujun is the only person who has been in charge of the two stock exchange in Shanghai and Shenzhen, and is the first person to work in the SFC for more than 20 years?