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Officials penalized over illegal share trades
By Winny Wang |
November 9, 2009, Monday
|
Online Edition
Online Edition
FORTY-FIVE senior company officials have been penalized for breaking share trading rules in the first 10 months this year, Shanghai Stock Exchange said today.
Their misconduct included trading stocks during the "window period," when major shareholders are barred from increasing stakes in their companies ahead of the release of financial results, the bourse said on its Website today.
Some were also penalized for short-term trading or failing to publish information on time, the statement said.
Senior executives are banned from selling or buying holdings in their companies within six months after purchases or stock sales.
The bourse will enhance supervision on 19 officials and will issue notices of criticism on another 26 executives, the statement said.
Their misconduct included trading stocks during the "window period," when major shareholders are barred from increasing stakes in their companies ahead of the release of financial results, the bourse said on its Website today.
Some were also penalized for short-term trading or failing to publish information on time, the statement said.
Senior executives are banned from selling or buying holdings in their companies within six months after purchases or stock sales.
The bourse will enhance supervision on 19 officials and will issue notices of criticism on another 26 executives, the statement said.
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