Core Points - The Tianjin Securities Regulatory Bureau has imposed a fine of 600,000 yuan on fund manager Li Dan for engaging in "rat trading" activities, which has garnered significant attention in the industry [1] - Li Dan utilized undisclosed information to conduct synchronized trading through others' securities accounts, involving 41 stocks and a total synchronized buy amount of 33.12 million yuan, ultimately resulting in losses [1][3] - The case highlights the ongoing crackdown by regulatory authorities on illegal activities like "rat trading," emphasizing a zero-tolerance approach towards such violations [3] Company Insights - Li Dan was employed at Guoshou Anbao Fund Company at the time of the incident and had managed several fund products, including Guoshou Anbao Core Industry, which coincides with the timeline of the alleged misconduct [3] - Guoshou Anbao Fund has stated that the administrative penalty is a personal matter of Li Dan and does not relate to the company, which aims to strengthen compliance culture and protect investor interests [3] - The case serves as a reminder for market participants to adhere to laws and regulations, reinforcing the importance of ethical conduct in the financial industry [4]

又一起基金"老鼠仓"被曝光。 8月18日，中国证券监督管理委员会天津监管局发布行政处罚决定书。该处罚决定书显示，原基金经理李丹于2022年3月22日至2024年2月8日期间，控 制"王某"证券账户从事与基金未公开信息相关的交易活动。相关交易与基金发生交易趋同，趋同买入股票41只，趋同买入股票占比74.55%，趋同买入金 额3311.97万元，趋同买入金额占比72.77%，交易亏损。 简单点说，李丹在将近两年多时间里，控制他人证券账户，趋同交易3300多万元，但是最终并未盈利，而是落得个亏损的局面。 另外，据该行政处罚决定书公布的信息，李丹在2016年2月3日至2024年2月8日，担任某基金基金经理。经该信息印证可知，李丹为国寿安保基金管理有 限公司原基金经理。 | 产品名称 | 投资类型 | 任职日期 | 离任日期 | 任肥回报 | 年化回报 | 回报排名 | 合计规模(亿元) | | --- | --- | --- | --- | --- | --- | --- | --- | | 国寿安保稳信A | : 偏债混合空 | 2019-01-09 | 2024-09-04 | 23.87% | 3.86% | ...

Core Viewpoint - The article discusses a case of insider trading known as "mouse warehouse" involving a former fund manager, Li Dan, who was fined for trading based on undisclosed information related to a fund he managed [2][4]. Group 1: Case Details - Li Dan controlled another person's securities account to conduct trading activities related to undisclosed information from March 22, 2022, to February 8, 2024, resulting in a fine of 600,000 yuan [2][3]. - During the mentioned period, Li Dan's trading decisions led to the purchase of 41 stocks, which accounted for 74.55% of the total trades, with a total investment of approximately 33.12 million yuan, representing 72.77% of the total trading amount, ultimately resulting in losses [3][4]. - Li Dan's actions violated the Fund Law, leading to the penalty imposed by the Tianjin Securities Regulatory Bureau [4]. Group 2: Background of Li Dan - Li Dan joined Guoshou Anbao Fund in December 2013 and served as the fund manager for the Guoshou Anbao Core Industry Fund from February 3, 2016, to February 8, 2024 [2][4]. - Over his eight-year tenure managing the Guoshou Anbao Core Industry Fund, Li Dan recorded a return of -7.77%, placing it in the bottom 10% of similar products [4]. - Li Dan managed a total of seven public funds, with one fund reaching a management scale exceeding 2 billion yuan in Q4 2020, but he recorded losses in multiple funds during his management [4]. Group 3: Industry Context - The article highlights that "mouse warehouse" incidents have been recurrent in the industry, with several fund companies, including Jiashi Fund and Puyin Ansheng Fund, facing similar issues [5][6]. - The regulatory environment has tightened, with increased penalties for such violations, indicating a growing awareness and response to these unethical practices [7]. - Industry insiders suggest that the allure of high returns drives some professionals to engage in illegal trading, while existing internal controls and monitoring mechanisms are often inadequate [7].

又一起基金经理"老鼠仓"事件被曝光。 8月18日，天津证监局公布了一则对李丹的行政处罚决定书。根据该处罚书提及的当事人姓名及其入职基金公司和管理基金的时间，可推定其为国寿 安保基金前基金经理李丹。 处罚书显示，李丹曾在2022年3月22日至2024年2月8日期间，控制"王某"证券账户从事与基金未公开信息相关的交易活动，指示杨某尘具体实施下单 操作。其间，趋同买入金额达3311.97万元，但最后的结果是亏损。根据相关法律条款，天津证监局对李丹处以60万元的罚款。 当日，国寿安保基金向《国际金融报》记者回应称，上述李丹为公司前员工，其涉及的行政处罚事项系其个人行为。 又一起"老鼠仓" 据天津证监局公布的信息，2013年12月9日，李丹入职某基金管理有限公司。2016年2月3日至2024年2月8日，李丹担任某基金的基金经理，负责该基 金具体投资运作，知悉该基金投资决策情况、交易情况、持仓情况等未公开信息。 | 索 引 号 | bm56000001/2025-00009804 | ਦੇ 美 | 行政处罚决定;行政执法 | | --- | --- | --- | --- | | 发布机构 | | 发文日期 | 2025 ...

Core Viewpoint - A fund manager named Li Dan was fined 600,000 yuan for engaging in "rat trading," which involved trading activities related to undisclosed information from the fund, resulting in significant losses [2][3][4]. Group 1: Regulatory Actions - The Tianjin Securities Regulatory Bureau issued an administrative penalty against Li Dan for her involvement in illegal trading activities, which included a total investment of over 33 million yuan in 41 stocks, with a loss incurred [3][6]. - Li Dan's actions were deemed a violation of the Fund Law, specifically regarding the misuse of undisclosed information for personal gain [3][6]. Group 2: Company Response - Guoshou Anbao Fund stated that the actions of Li Dan were personal and not representative of the company's practices, emphasizing their commitment to compliance and high-quality development [2][5]. - The company plans to enhance its compliance culture and continue to protect the interests of its investors [5]. Group 3: Industry Context - "Rat trading" is defined as the practice where fund managers use their position to trade on non-public information, undermining market fairness [6]. - Regulatory bodies have been intensifying efforts to combat illegal activities in the capital market, including various forms of "rat trading" [6][7].

《每日经济新闻》记者获悉，8月18日，天津证监局发布的一则行政处罚决定书显示，某基金公司基金 经理李丹在任职期间控制另一证券账户从事与基金未公开信息相关的交易活动，李丹作出交易决策，指 示他人具体实施下单操作，相关交易与基金发生交易趋同。 值得注意的是，尽管其趋同买入41只股票，趋同买入股票占比 74.55%，趋同买入金额3311.97万元，趋 同买入金额占比72.77%，但最后的结果却是亏损。 监管部门认定，李丹的上述行为违反了基金法第二十条第六项的规定，构成基金法第一百二十三条第一 款所述的违法行为，最终对她处以60万元罚款。 记者查阅公开资料发现，曾在国寿安保基金任职的基金经理李丹在2013年入职该公司，2016年2月3日至 2024年2月8日担任国寿安保核心产业的基金经理，与监管部门提到的信息完全一致。她在2024年9月已 经离任最后一只产品。 对此，国寿安保基金在给记者的回复中表示，该名前员工所涉及的行政处罚相关事项，系其个人行为。 下一步，国寿安保基金将持续推进合规文化建设，推进公司高质量发展，坚决维护持有人利益，一如既 往地为持有人创造更多价值。 趋同买入3311.97万元 据天津证监局相关行政 ...

每经记者｜李蕾 每经编辑｜金冥羽 赵云 《每日经济新闻》获悉，8月18日天津证监局发布的一则行政处罚决定书显示，某基金公司的基金经理李丹在任职期间控制另一证券账户从事与基金未公 开信息相关的交易活动，李丹作出交易决策，指示他人具体实施下单操作，相关交易与基金发生交易趋同。 监管机构认定，李丹的上述行为违反了《基金法》第二十条第六项的规定，构成《基金法》第一百二十三条第一款所述的违法行为，最终对她处以60万元 罚款。 罚单显示，当事人：李丹，女，1982年10月出生，住址：北京市海淀区。 李丹在书面材料中提出，涉案期间部分趋同股票并非其授意下的交易、造成趋同具有合理原因、资金没有直接进入"王某"账户等陈述申辩意见。但监管对 此并未采纳，最终决定对其处以60万元罚款。 基金产品任职期间亏损 去年9月已离职 基金经理搞趋同交易亏了 还被监管处罚 据天津证监局相关行政处罚决定书介绍，2013年12月9日，李丹入职某基金公司，2016年2月3日至2024年2月8日担任某基金的基金经理，负责该基金具体 投资运作，知悉该基金投资决策情况、交易情况、持仓情况等未公开信息。 2022年3月22日至2024年2月8日期间，李丹控 ...

Core Viewpoint - The article discusses a recent case of insider trading in the fund industry, highlighting the penalties imposed on a fund manager for engaging in illegal trading activities using non-public information [3][8]. Summary by Sections Case Details - The Tianjin Securities Regulatory Bureau imposed a fine of 600,000 yuan on a fund manager named Li Dan for conducting transactions based on undisclosed information from March 22, 2022, to February 8, 2024, with a total investment amount of 33.12 million yuan [3][8]. - Li Dan's actions involved trading 41 stocks, with 74.55% of the trades being in line with the fund's undisclosed information, resulting in a total investment amount that accounted for 72.77% of the fund's transactions [7][8]. Background of the Fund Manager - Li Dan, an 80s-born female fund manager, worked for a fund management company since December 2013 and managed a specific fund from February 2016 until her departure in February 2024 [7][10]. - The fund she managed, known as Guoshou Anbao Core Industry, had a return of -7.7% over her management period, ranking 716th out of 789 similar products [11]. Regulatory Environment - The article notes that the China Securities Regulatory Commission has maintained a strict stance against illegal activities in the fund industry, continuously investigating and penalizing such cases [12]. - Recent legal clarifications have been made regarding the definitions and penalties associated with insider trading, aiming to strengthen regulations against such misconduct [12]. Industry Implications - The case raises questions about why fund professionals risk their careers for illegal gains, with some attributing it to a lack of legal awareness and a sense of invulnerability among certain individuals [13]. - The fund industry operates under a "zero tolerance" policy for compliance violations, meaning that such penalties can severely impact a fund manager's career prospects [13].

Core Viewpoint - The case of a fund manager engaging in insider trading has been revealed, leading to a fine imposed by the Tianjin Securities Regulatory Bureau for the manager's actions involving undisclosed information [1][3]. Group 1: Case Details - The fund manager, identified as Li Dan, was penalized for conducting transactions based on undisclosed information from March 22, 2022, to February 8, 2024, with a total of 33.12 million yuan involved in trades [2]. - Li Dan's transactions included 41 stocks, with a trading volume that accounted for 74.55% of the stocks traded by the fund, and the total amount represented 72.77% of the fund's trading activities [2]. - The transactions ultimately resulted in losses, despite Li Dan's attempts to justify her actions during the regulatory investigation [2][3]. Group 2: Regulatory Response - The Tianjin Securities Regulatory Bureau confirmed the violations of the Fund Law and imposed a fine of 600,000 yuan on Li Dan [3]. - The regulatory body has been actively pursuing violations in the fund industry, indicating a stringent approach to enforcing compliance and addressing insider trading [6]. Group 3: Industry Context - The fund industry has seen a rise in regulatory scrutiny, with multiple cases being investigated to uphold market integrity and protect investors [6]. - There is a growing concern among industry insiders regarding the motivations behind such violations, including a lack of legal awareness and a tendency to take risks for short-term gains [7]. - The repercussions of such violations are severe, as they can permanently damage a fund manager's career and reputation within the asset management industry [7].

对此，国寿安保基金在给记者的回复中表示，该名前员工所涉及到行政处罚的相关事项，系其个人行 为。下一步，国寿安保基金将持续推进合规文化建设，推进公司高质量发展，坚决维护持有人利益，一 如既往地为持有人创造更多价值。 基金经理搞趋同交易亏了，还被监管处罚 据天津证监局相关行政处罚决定书介绍，2013年12月9日，李丹入职某基金公司，2016年2月3日至2024 年2月8日担任某基金的基金经理，负责该基金具体投资运作，知悉该基金投资决策情况、交易情况、持 仓情况等未公开信息。 2022年3月22日至2024年2月8日期间，李丹控制"王某"证券账户从事与基金未公开信息相关的交易活 动，李丹作出交易决策，指示杨某尘具体实施下单操作。 记者注意到，根据监管公布的信息，其相关交易与基金发生交易趋同，趋同买入股票41只，占比 74.55%，趋同买入金额3311.97万元，占比72.77%，但最后的结果却是亏损。 监管机构认为，上述违法事实，有公司情况说明、基金交易资料、相关人员询问笔录、微信聊天记录、 证券账户资料、银行交易流水、交易所计算数据等证据，足以证明。李丹的上述行为违反了《基金法》 第二十条第六项的规定，构成《基金 ...