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 regulatory violations within the industry, specifically the misuse of non-public information for personal gain [1][6]. Summary by Relevant Sections Regulatory Actions - The Heilongjiang Securities Regulatory Bureau imposed a total fine of 4.7 million yuan on Tang Mouming for three violations: unauthorized trading using self-operated accounts, suggesting others engage in similar trading, and illegal stock trading as a securities professional [4][6]. Violations Details - Tang Mouming's violations include: 1. Engaging in insider trading by utilizing non-public 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]. 2. Indicating to others, such as Xing Mou and Xie Mou, to trade based on non-public information, leading to a total of 2.12 billion yuan in suggested trades [9][10]. 3. As a securities professional, he illegally traded stocks amounting to 1.4 billion yuan, excluding the coordinated trading amounts [10]. Industry Context - The case of Tang Mouming is not isolated; there have been at least three other similar cases in the year involving securities professionals misusing non-public information for trading, even when no profits were made [11]. - Other notable cases include: - Li Haipeng from CITIC Securities, who was fined a total of 426.28 million yuan for similar violations [11]. - Shao, who misused his position to trade 3.15 billion yuan worth of stocks, resulting in a fine of 88.18 million yuan [12]. - Sun Yongxiang, a higher-ranking official, faced penalties totaling 18.42 million yuan for multiple violations [12]. Regulatory Response - In response to persistent violations, the China Securities Association has sought opinions on new guidelines aimed at managing the investment behaviors of senior management and securities professionals, emphasizing the need for stricter monitoring and record-keeping [13].