券商投资部总经理，老鼠仓亏损，带他人炒股仍亏被罚470万元

Core Viewpoint - The Heilongjiang Securities Regulatory Bureau has imposed administrative penalties on a former securities firm manager, Tang Mouming, for engaging in insider trading and directing others to do the same, resulting in significant financial losses [1][4]. Summary by Sections Administrative Penalty - Tang Mouming, the former general manager of a securities investment department, was found to have engaged in "rat trading" using insider information, leading to a loss of 550 million yuan [1]. - The regulatory body conducted an investigation and held a hearing on August 25, 2025, to address the allegations against Tang [1]. Trading Activities - From November 15, 2022, to January 29, 2024, Tang used various accounts to collectively buy 177 stocks, including China Satellite and Poly Development, amounting to 300.24 million yuan, which represented 57.47% of the total number of stocks and 78.87% of the total investment [2]. - Additionally, he controlled another account that bought 55 stocks for 61.68 million yuan, accounting for 69.62% of the total number of stocks and 77.24% of the total investment [2]. - Another account controlled by Tang purchased 123 stocks for 189.42 million yuan, which made up 51.68% of the total number of stocks and 75.60% of the total investment [2]. Violations and Penalties - The total amount of insider trading conducted by Tang was 551.35 million yuan, which constituted 77.54% of the overall trading amount, with no illegal gains reported [3]. - Tang also directed others, such as Xing Mou and Xie Mou, to engage in similar trading activities, resulting in significant investments without illegal gains [3]. - The regulatory authority determined that Tang's actions violated multiple provisions of the Securities Law, leading to a total fine of 4.7 million yuan, broken down into various penalties for different violations [4].