罕见！“没一罚五”，监管出手重罚！

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has imposed a significant penalty on Chen Jinquan for insider trading, reflecting a stringent regulatory environment and a "zero tolerance" approach towards such violations [2][5]. Summary by Sections Insider Trading Case - Chen Jinquan was found to have made a profit of approximately 5.79 million yuan from insider trading, leading to a total penalty of about 34.74 million yuan, which includes the confiscation of illegal gains and a fine [2][4]. - The trading activities occurred between January 5 and January 9, 2023, coinciding with the formation of insider information, indicating abnormal trading behavior [4]. Regulatory Environment - The CSRC has increased the penalty ratios for insider trading cases, with many cases adopting a "confiscation and fine ratio" of "one confiscation to three fines," and some severe cases reaching "one confiscation to five fines" [2][6]. - The new Securities Law, effective from March 2020, has raised the maximum fine for insider trading to ten times the illegal gains, enhancing the regulatory framework [6][7]. Enforcement Actions - The CSRC has been actively monitoring and cracking down on insider trading, with a focus on new and emerging illegal activities, including the use of derivatives for such trades [7][8]. - Recent enforcement actions include the investigation of 35 cases related to insider trading and the implementation of stricter monitoring of stock price fluctuations [7].