Others News
- CSRC to crack down on insider trading
Date: 7-Sep-2007 Sources: (Shenzhen Daily)
THE securities regulator said late Wednesday it will step up a crackdown on insider trading and price manipulation to ensure the healthy development of the country's capital markets.
The regulator will improve its cooperation with stock exchanges and the Public Security Bureau in the crackdown on illegal activities in the stock market, Fan Fuchun, vice chairman of the China Securities Regulatory Commission, said in a statement.
Insider trading and price manipulation are on the rise as China's share market races ahead, posing a stiff challenge to the authorities.
'With stock trading becoming increasingly active recently, insider trading has become more rampant and price manipulation has become more sophisticated, seriously disturbing market order and hurting investors' interests,'Fan said. 'Combined with various illegal practices, this is providing a huge challenge to us in our work.'
The benchmark Shanghai Composite Index more than doubled in value last year and has risen a further 98 percent so far this year on speculation over a further yuan appreciation and improved corporate earnings.
The government has been trying to clamp down on insider trading and market manipulation.
But analysts say the punishment handed out to offenders is too mild to be a deterrent, especially when stock prices are climbing fast.
Sponsor Results:
