证监会：顶格罚500万！

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued two insider trading penalties, highlighting the enforcement of securities laws and the consequences of non-compliance with investigations [1][2][6]. Group 1: Penalty on Pan - Pan Mou Dong was fined 5 million yuan, the maximum penalty, for insider trading despite incurring losses from the trades [1][3]. - The insider information related to an asset restructuring announcement made on January 10, 2024, which was known to Pan by December 5, 2023 [4]. - Between December 8 and 20, 2023, Pan used others' securities accounts to buy stocks of the related company, resulting in losses [5][6]. Group 2: Penalty on Zhang - Zhang Mou Ming was found to have failed to provide required information during the investigation and was penalized 150,000 yuan after making a profit of 152,200 yuan from insider trading [9][11]. - The insider information also pertained to the same asset restructuring announcement, with Zhang having contact with insider information holders on December 26, 2023, and trading from December 26 to January 9, 2024 [9][10]. - The CSRC noted the abnormal nature of Zhang's trading behavior, including the timing of fund transfers and sudden stock purchases after a period of inactivity [10].