罕见！躲避推脱，不配合询问……证监会：顶格罚500万！

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued penalties for insider trading, highlighting the enforcement of securities laws and the consequences of non-compliance [1][5]. Group 1: Case of Pan Moudong - Pan Moudong was found guilty of insider trading, having knowledge of insider information by December 5, 2023, and trading between December 8 and 20, 2023, resulting in losses [2][3]. - The CSRC imposed the maximum fine of 5 million yuan on Pan Moudong, despite the trading resulting in a loss, due to his non-cooperation during the investigation [1][4]. - Evidence supporting the violation included trading records, bank account details, and testimonies, confirming that Pan's actions constituted insider trading as per the Securities Law [3][4]. Group 2: Case of Zhang Muming - Zhang Muming was also penalized for insider trading, having made a profit of 152,200 yuan from trading based on insider information that was known by December 5, 2023 [5][6]. - The CSRC determined that Zhang's trading behavior was suspicious, with significant evidence indicating a lack of legitimate information sources and abnormal trading patterns [6][7]. - Zhang was fined 1.5 million yuan and had his illegal gains confiscated, with the CSRC considering the nature and severity of the violations in determining the penalty [7].