证监会日前更新披露的一则行政处罚决定书显示，证监会对展翔作为证券从业人员违规买卖股票的行为 进行立案调查。经查明，案涉期间，展翔为证券公司从业人员，其在从业期间通过他人违规投资交易多 个公司股票。2018年2月至2024年10月，展翔控制使用多个他人证券账户持有、买卖多只股票。 展翔提出相关账户交易实质为代他人账户买卖股票、涉案投资非本人决策及资金、相关证券账户与本案 无关等陈述和申辩意见，请求减轻处罚。 证监会决定：责令展翔依法处理非法持有的股票，并处罚没款共计1.59亿元。鉴于展翔在从业期间控制 使用多人证券账户持有、买卖股票，持续时间较长，情节严重，证监会对展翔采取5年证券市场禁入措 施。 经复核，证监会认为，在案证据足以证明相关证券账户由展翔控制使用并交易决策，相应资金由展翔控 制使用，足以认定展翔构成违规持有、买卖股票等违法行为。证监会已充分考虑本案事实、性质、情节 和社会危害后果，量罚适当。综上，对相关陈述和申辩意见不予采纳。 控制使用多个他人证券账户 持有、买卖多只股票 案涉期间，展翔为证券公司从业人员，其在从业期间通过他人违规投资交易多个公司股票。2018年2月 至2024年10月，展翔控制使 ...

经证监会复核，在案证据足以证明相关证券账户由展翔控制使用并交易决策，相应资金由展翔控制使 用，足以认定展翔构成违规持有、买卖股票等违法行为。证监会对其相关陈述和申辩意见不予采纳。 根据当事人违法行为的事实、性质、情节与社会危害程度，结合违法行为跨越新旧《证券法》适用的特 别情形，依据《证券法》第一百八十七条规定，证监会决定：责令展翔依法处理非法持有的股票，并处 罚没款共计1.59亿元。 鉴于展翔在从业期间控制使用多人证券账户持有、买卖股票，持续时间较长，情节严重，证监会决定： 对展翔采取5年证券市场禁入措施。 值班编辑：小羊 9月26日消息，证监会日前披露的行政处罚信息显示，证券从业人员展翔因违规买卖股票，被罚没1.59 亿元，同时证券市场禁入5年。 案涉期间，展翔为证券公司从业人员，其在从业期间通过他人违规投资交易多个公司股票。2018年2月 至2024年10月，展翔控制使用多个他人证券账户持有、买卖多只股票。 展翔提出相关账户交易实质为代他人账户买卖股票、涉案投资非本人决策及资金、相关证券账户与本案 无关等陈述和申辩意见，请求减轻处罚。 ...

2025.09.26 9月26日消息，证监会日前披露的行政处罚信息显示，证券从业人员展翔因违规买卖股票，被罚没1.59 亿元，同时证券市场禁入5年。 案涉期间，展翔为证券公司从业人员，其在从业期间通过他人违规投资交易多个公司股票。2018年2月 至2024年10月，展翔控制使用多个他人证券账户持有、买卖多只股票。 展翔提出相关账户交易实质为代他人账户买卖股票、涉案投资非本人决策及资金、相关证券账户与本案 无关等陈述和申辩意见，请求减轻处罚。 经证监会复核，在案证据足以证明相关证券账户由展翔控制使用并交易决策，相应资金由展翔控制使 用，足以认定展翔构成违规持有、买卖股票等违法行为。证监会对其相关陈述和申辩意见不予采纳。 本文字数：609，阅读时长大约1分钟 根据当事人违法行为的事实、性质、情节与社会危害程度，结合违法行为跨越新旧《证券法》适用的特 别情形，依据《证券法》第一百八十七条规定，证监会决定：责令展翔依法处理非法持有的股票，并处 罚没款共计1.59亿元。 封图 |AI生成 鉴于展翔在从业期间控制使用多人证券账户持有、买卖股票，持续时间较长，情节严重，证监会决定： 对展翔采取5年证券市场禁入措施。 微信编 ...

案涉期间，展翔为证券公司从业人员，其在从业期间通过他人违规投资交易多个公司股票。 2018年 2月至2024年10月，展翔控制使用多个他人证券账户持有、买卖多只股票。 展翔提出相关账户交易实质为代他人账户买卖股票、涉案投资非本人决策及资金、相关证券账户与本 案无关等陈述和申辩意见，请求减轻处罚。 经证监会复核，在案证据足以证明相关证券账户由展翔控制使用并交易决策，相应资金由展翔控制使 用，足以认定展翔构成违规持有、买卖股票等违法行为。证监会对其相关陈述和申辩意见不予采纳。 2025.09. 26 本文字数：609，阅读时长大约1分钟 封图 | AI生成 9月26日消息，证监会日前披露的行政处罚信息显示， 证券从业人员展翔因违规买卖股票，被罚没 1.59亿元，同时证券市场禁入5年。 （注：我们会对线索进行核实。您的隐私将严格保密。） 推荐阅读 捷豹路虎3.3万名员工被告知"停工停产" 根据当事人违法行为的事实、性质、情节与社会危害程度，结合违法行为跨越新旧《证券法》适用的 特别情形，依据《证券法》第一百八十七条规定，证监会决定： 责令展翔依法处理非法持有的股 票，并处罚没款共计1.59亿元。 鉴于展翔在从业期间 ...

2018年2月至2024年10月，展翔控制使用多个他人证券账户持有、买卖多只股票。证监会决定：责令展 翔依法处理非法持有的股票，并处罚没款共计159,497,159.49元。 鉴于展翔在从业期间控制使用多人证券账户持有、买卖股票，持续时间较长，情节严重，证监会对展翔 采取5年证券市场禁入措施。 中国证券监督管理委员会发布行政处罚决定书，对展翔作为证券从业人员违规买卖股票的行为进行立案 调查，经查明，展翔存在以下违法事实：案涉期间，展翔为证券公司从业人员，其在从业期间通过他人 违规投资交易多个公司股票。 ...

2018年2月至2024年10月，展翔控制使用多个他人证券账户持有、买卖多只股票。 证监会决定：责令展翔依法处理非法持有的股票，并处罚没款共计 159,497,159.49元。 鉴于展翔在从业期间控制使用多人证券账户持有、买卖股票，持续时间较长，情节严重， 证监会对展翔采取5年证券市场禁入措施 。 中国证券监督管理委员会发布行政处罚决定书，对展翔作为证券从业人员违规买卖股票的行为进行立案调查，经查明，展翔存在以下违法事实：案 涉期间，展翔为证券公司从业人员，其在从业期间通过他人违规投资交易多个公司股票。 ...

Core Viewpoint - The Chongqing Securities Regulatory Bureau has imposed a maximum penalty of 42.5 million RMB on individual Zheng Hairuo for multiple serious violations related to the trading of Wanli New Energy Co., Ltd. stock, including illegal transfers and failure to disclose stock holdings [1][2][3] Summary by Relevant Sections - **Violations and Penalties** - Zheng Hairuo engaged in three major violations over nearly nine years, including illegal transfers, failure to disclose stock holdings, and intentional evasion of mandatory takeover obligations [1][2] - The total penalty consists of 32.5 million RMB for illegal transfers, 5 million RMB for failure to disclose, and 5 million RMB for not fulfilling takeover obligations, culminating in a total fine of 42.5 million RMB [2][3] - **Duration and Impact of Violations** - The violations occurred from July 7, 2016, to May 26, 2025, with significant trading volumes, including the purchase of 163 million shares (approximately 3.17 billion RMB) and the sale of 149 million shares (approximately 2.96 billion RMB) [1][2] - Zheng Hairuo's controlled accounts held over 5% of Wanli's issued shares multiple times, with the highest holding reaching 37.45%, without issuing mandatory takeover offers [2] - **Regulatory Actions** - Due to the severity and duration of the violations, Zheng Hairuo has been banned from trading securities in any trading venue for three years [3]

Core Viewpoint - The article discusses the administrative penalty imposed by the Chongqing Securities Regulatory Bureau on Zheng for serious violations of securities laws, including failure to report significant shareholding changes and not issuing mandatory takeover bids when shareholding exceeded 30% [1][7][11]. Summary by Sections Violations and Penalties - Zheng controlled 24 stock accounts and traded shares of "Wanli Co." without proper reporting, accumulating 163 million shares purchased for 3.17 billion yuan and 149 million shares sold for 2.957 billion yuan, with no illegal gains [4][11]. - Zheng failed to disclose shareholding changes as required, with multiple instances of not reporting when holdings changed by 5% or 1% from July 7, 2016, to May 26, 2025 [5][11]. - The Chongqing Securities Regulatory Bureau imposed a total fine of 42.5 million yuan, including 32.5 million yuan for illegal transfer of securities, 5 million yuan for information disclosure violations, and 500,000 yuan for failing to issue a takeover bid [2][9][10][11]. Regulatory Basis - Zheng's actions were found to violate several articles of the revised Securities Law of the People's Republic of China, including provisions related to information disclosure and takeover bids [7][11]. - The regulatory authority emphasized the severity of Zheng's violations, which lasted for an extended period and involved significant amounts, impacting market order and fairness [11]. Additional Measures - Zheng is required to disclose a detailed equity change report within 10 days and is prohibited from exercising voting rights on shares acquired in violation of regulations for 36 months [12][14]. - The Chongqing Securities Regulatory Bureau will record Zheng's violations in the securities and futures market integrity archives [15].

Core Viewpoint - The article discusses the administrative penalty imposed by the Chongqing Securities Regulatory Bureau on Zheng for serious violations of securities laws, including failure to report significant shareholding changes and not issuing mandatory buyout offers when shareholding exceeded 30% [1][5]. Summary by Sections Violation Duration and Amount - Zheng's illegal activities spanned from July 7, 2016, to May 26, 2025, involving the control of 24 stock accounts to trade "Wanli Shares," with a total purchase of 163 million shares amounting to 3.17 billion yuan and total sales of 149 million shares amounting to 2.957 billion yuan [3][4]. Reporting Obligations - Zheng failed to disclose shareholding changes as required, with multiple instances of not reporting when his shareholding changed by 5% or 1%. He also did not issue a buyout offer when his holdings reached 30% [4][10]. Penalties Imposed - The Chongqing Securities Regulatory Bureau imposed a total fine of 42.5 million yuan on Zheng, which includes 32.5 million yuan for illegal transfer of securities, 5 million yuan for failure to disclose information, and 500,000 yuan for not issuing a buyout offer [2][6][9]. Market Ban - Zheng is subject to a three-year market ban from the date of the decision, prohibiting him from trading securities in any market [9][11]. Required Actions - Zheng is mandated to disclose a detailed equity change report within 10 days and is restricted from exercising voting rights on shares exceeding the allowed limit for 36 months [10].

Core Points - The China Securities Regulatory Commission (CSRC) has imposed a fine of 50,000 yuan on Wang Panyi for illegal trading activities involving stocks and convertible bonds [2][8] - Wang Panyi, as a securities practitioner at Pacific Securities Co., Ltd., used a controlled account to buy and sell stocks and convertible bonds from February 2017 to August 2024, resulting in a total purchase of approximately 31.05 million yuan and a sale of about 30.66 million yuan, leading to a loss of around 405,100 yuan [1][6][7] Regulatory Violations - Wang Panyi's actions violated several provisions of the Securities Law, including Article 43, which prohibits certain personnel from trading stocks, and Article 199, which outlines penalties for illegal trading [3][4][7] - The trading of convertible bonds occurred between October 2020 and March 2024, with total purchases of approximately 23,000 yuan and sales of about 27,100 yuan [1][6] Evidence and Proceedings - The investigation was supported by various forms of evidence, including employment certificates, account information, inquiry records, and transaction logs [7] - Wang Panyi did not contest the charges or request a hearing during the investigation process [5][8]