券商自营老鼠仓第一例，一分没赚到倒罚470万

Core Viewpoint - The recent case of insider trading involving a securities firm's self-operated general manager highlights ongoing issues of misconduct within the industry, leading to significant penalties imposed by regulatory authorities [1][6]. Summary by Relevant Sections Regulatory Actions - The Heilongjiang Securities Regulatory Bureau issued a penalty of 4.7 million yuan to Tang Mouming for three violations: trading based on undisclosed information, suggesting others to engage in similar trading, and violating trading regulations as a securities professional [4][6]. Violations Details - Tang Mouming's violations include: 1. Engaging in insider trading by utilizing undisclosed information from November 2022 to June 2023, controlling accounts that traded 177 stocks with a total investment of 5.51 billion yuan, which accounted for 77.54% of the total buying amount [8][9]. 2. Indicating to others, including individuals named Xing and Xie, to trade based on undisclosed information, resulting in a total of 2.12 billion yuan in similar trades [8][9]. 3. As a securities professional, he conducted illegal stock trading amounting to 1.4 billion yuan, excluding the coordinated trading amounts [9][10]. Industry Context - The case of Tang is not isolated; there have been at least three other similar cases in the year involving securities professionals engaging in insider trading, even when no profits were made [10][11]. - Regulatory bodies are intensifying their scrutiny of insider trading practices, with new guidelines being proposed to manage the investment behaviors of key personnel within securities firms [12].