Related News
Analysts fined for manipulating share prices
By Lydia Chen |
February 15, 2011, Tuesday
|
Print Edition
Print Edition
TWO stock analysts were fined a combined 760,000 yuan (US$115,500) for manipulating share prices by releasing false recommendations and company news to the public, China's top securities supervisor ruled.
However, it was unclear how much money, Deng Xiaobo, an analyst with a mutual fund in Shenzhen, and Deng Xiyuan, who works for Guangzhou-based Wanlian Securities, earned through their actions. The clients they represented lost nearly 4.34 million yuan combined.
Deng Xiaobo was fined 330,000 yuan while Deng Xiyuan was slapped with a 430,000 yuan fine.
From January 10, 2008 to July 8, 2008, the two published 36 articles on some major business websites recommending stocks they had already bought for their clients. After the articles were released, they waited for the share prices to rise to sell at a profit, according to the China Securities Regulatory Commission.
The CSRC did not explain how the clients lost money.
China bans stock analysts from trading shares with their own accounts.
However, it was unclear how much money, Deng Xiaobo, an analyst with a mutual fund in Shenzhen, and Deng Xiyuan, who works for Guangzhou-based Wanlian Securities, earned through their actions. The clients they represented lost nearly 4.34 million yuan combined.
Deng Xiaobo was fined 330,000 yuan while Deng Xiyuan was slapped with a 430,000 yuan fine.
From January 10, 2008 to July 8, 2008, the two published 36 articles on some major business websites recommending stocks they had already bought for their clients. After the articles were released, they waited for the share prices to rise to sell at a profit, according to the China Securities Regulatory Commission.
The CSRC did not explain how the clients lost money.
China bans stock analysts from trading shares with their own accounts.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
