Core Viewpoint - The article highlights a case of "rat trading" in the fund industry involving a former fund manager, Li Dan, who engaged in illegal trading activities using insider information, resulting in a fine of 600,000 yuan by the Tianjin Securities Regulatory Bureau [1][3][6]. Group 1: Case Details - Li Dan, a former fund manager at Guoshou Anbao Fund, was found to have controlled another person's securities account to conduct trades based on non-public information from March 2022 to February 2024, with a total buy amount of 33.12 million yuan [1][3]. - The investigation revealed that Li Dan executed trades in 41 stocks, with 74.55% of the trades being in line with the fund's transactions, leading to a total trading loss [3][6]. - Despite Li Dan's claims that some trades were not directed by her and had reasonable explanations, the Tianjin Securities Regulatory Bureau did not accept her defense [3][6]. Group 2: Regulatory Environment - The case reflects the regulatory authorities' zero-tolerance stance towards "rat trading," as evidenced by similar recent cases where individuals faced significant penalties for using insider information [6][7]. - In May 2023, another individual was penalized for similar offenses, with a total fine of 4.26 million yuan for trading 76 stocks based on non-public information [7]. - The legal framework for punishing "rat trading" has become clearer, with both profits and losses from illegal activities being considered in the determination of penalties [8]. Group 3: Li Dan's Background - Li Dan has a long career in the fund industry, having joined Guoshou Anbao Fund in December 2013 and serving as a fund manager for several products, including the Guoshou Anbao Core Industry Flexible Allocation Mixed Fund [5]. - During her tenure, Li Dan's performance was subpar, with a return of -7.77% over more than eight years, ranking her 716 out of 789 in her category [5].

Core Viewpoint - The article reveals a case of "mouse warehouse" involving a fund manager named Li Dan, who used undisclosed information for trading activities, leading to significant financial losses and a penalty from the Tianjin Securities Regulatory Bureau [2][3][4]. Group 1: Case Details - Li Dan was found to have knowledge of undisclosed information related to the fund's investment decisions and trading activities during her tenure as a fund manager from February 3, 2016, to February 8, 2024 [4][5]. - Between March 22, 2022, and February 8, 2024, Li Dan controlled a securities account and engaged in trading activities that mirrored the fund's undisclosed information, resulting in a total of 41 stocks being bought in a similar manner, accounting for 74.55% of the stocks and 72.77% of the total investment amount of 33.12 million yuan [5][6]. - The Tianjin Securities Regulatory Bureau provided substantial evidence, including company statements, trading records, and communication logs, to support the findings against Li Dan, which constituted a violation of the Fund Law [5][6]. Group 2: Background of Li Dan - Li Dan, born in October 1982, has nearly 10 years of experience in the investment industry, having worked at China Galaxy Securities before joining Guoshou Anbao Fund in November 2013 [8][10]. - During her time at Guoshou Anbao Fund, she held various positions, including research analyst and fund manager, managing multiple funds with varying investment types [8][9]. - The core fund managed by Li Dan, Guoshou Anbao Core Industry Flexible Allocation Mixed Fund, experienced a decline of 7.77% in net asset value during her management period [9][10].

Core Viewpoint - The article discusses a recent case of "mouse trading" involving a female fund manager named Li Dan, who was fined 600,000 yuan for using non-public information to conduct trading activities that resulted in losses [2][4][6]. Summary by Sections Case Details - On August 18, the Tianjin Securities Regulatory Bureau disclosed an administrative penalty decision revealing Li Dan's involvement in "mouse trading" [4]. - Li Dan, born in October 1982, worked at a fund management company and was the fund manager for a specific fund from February 3, 2016, to February 8, 2024 [5][10]. Violations - Li Dan was found to have knowledge of non-public information regarding the fund's investment decisions and trading activities [5]. - From March 22, 2022, to February 8, 2024, she controlled a securities account to conduct trades based on this non-public information, resulting in a total of 41 stocks being bought in a manner that aligned with the fund's trading, accounting for 74.55% of the stocks and 72.77% of the total investment amount of 33.12 million yuan [6]. Penalty - The Tianjin Securities Regulatory Bureau determined that Li Dan's actions violated the Fund Law and imposed a fine of 600,000 yuan based on the nature and severity of her violations [6]. Background - Li Dan previously worked at China Galaxy Securities as a researcher and investment manager before joining Guoshou Anbao Fund in November 2013, where she held various positions including fund manager [8]. - During her tenure as the fund manager, the fund she managed experienced a decline in net value by 7.77% [10].