Rebirth: Stockbroker, I have market data

Chapter 432: Congested

The first case Song Yupeng told made Xiao Jin's scalp numb.

During the review of complaints and reports, the Hebei Provincial Regulatory Department discovered that the person in charge of a securities business department illegally bought and sold stocks. Although the illegal behavior has expired and the statute of limitations for administrative penalties has expired, considering that his long-term breach of the legal bottom line and the egregious nature of his behavior such as resistance to supervision, the Hebei Provincial Regulatory Department Administrative supervision measures were taken to identify them as inappropriate candidates. The business department where the employees worked failed to form a legal environment for compliance management. The compliance self-examination was not accurate and detailed, and the responsibilities were perfunctory, which reflected the weakness of the internal management of the business department. Due to his lack of legal awareness, warning letters and fines were eventually issued to him.

The content of the fine reads: After investigation, from 2005 to 2007, while working in a securities business department, a certain person illegally operated other people’s accounts to conduct stock transactions, which constituted illegal stock trading by employees of the securities company. The above behavior violated the 2005 Securities Law 》No. 40, in accordance with the relevant provisions of Article 2([-]) and Article [-] of the "Measures for the Supervision of Qualifications of Directors, Supervisors and Senior Managers of Securities Companies", the Hebei regulatory department decided to supervise this person as an unsuitable candidate. According to the measures, individuals shall not serve as directors, supervisors, senior executives and heads of branches of securities companies within [-] years from the date of the decision.

There is also a fine showing that after investigation, it was found that individual employees of the securities business department had been buying and selling stocks in violation of regulations for a long time and failed to detect and effectively prevent the above-mentioned behaviors. The compliance self-inspection report was seriously inconsistent with the actual situation, reflecting the internal affairs of the business department. The business department was issued a warning letter due to weak management, lack of effective monitoring of abnormal stock trading, and lack of control over employees' violations of laws and regulations.

Furthermore, there is a case where a certain securities and fund practitioner were both fined for “rat positions”.

A public fund manager used undisclosed information to recommend stocks to a securities practitioner, who guided his relatives to engage in transactions.In accordance with the Securities Investment Fund Law and the Provisions on Integrity of Securities and Futures Business Institutions and Their Staff, the regulatory authorities imposed administrative penalties on both individuals.

The regulatory authorities stated that this case was a fine issued by the regulatory authorities for an initial public offering fund manager who took advantage of his position to obtain undisclosed information to expressly and imply that others were engaged in relevant trading activities. It was also an administrative penalty imposed on a securities practitioner for violating integrity regulations.

The notice pointed out that securities and futures operating institutions and practitioners within the jurisdiction should take warning, adhere to the legal bottom line, strengthen the awareness of integrity, and resolutely put an end to the leakage of undisclosed information and the use of undisclosed information for transactions.

In addition, some securities companies have been punished due to inadequate internal controls.

After a securities company was ordered to make corrections by the regulatory authorities, it still had the following problems:

First, the internal control system is not perfect, and the company has not yet effectively established a legal risk prevention and isolation mechanism for the brokerage business. There is no scientific and standardized management system for customer development and customer management. The relevant internal control mechanisms have not played a role, and legal risks still exist; [-]. It is because some of the company's internal control systems have not yet been effectively implemented, compliance staffing cannot meet the company's development needs, and compliance management still does not cover the entire business chain.

The above-mentioned problems reflect their weak awareness of rectification, and the risk loopholes were not blocked in time. The regulatory authorities took administrative supervision measures of ordering corrections and restricting the distribution of dividends for one year. They require: All securities and futures operating institutions within their jurisdiction should attach great importance to the time limit and effectiveness of ordered rectifications, and implement them as soon as possible. Improve system loopholes, block business risks, and avoid the spread of risks caused by inadequate rectification.

After hearing this, Xiao Jin was really a little suspicious. Why did Song Yupeng talk about this case today? Is this aimed at himself, or is he reminding himself? !

Xiao Jin tried his best to manage his expression and remain calm.

Next, Song Yupeng explained a case of illegal shareholding reduction, a case of illegal information disclosure, and another case of market manipulation.

It seems that these three cases have nothing to do with the majority of securities practitioners, but Xiao Jin seems to be able to relate to any of these three things.

To illegally reduce holdings, you should know that Xiao Jin invested in Jade Bird Digital through Tide Investment Company and made a plan to reduce his holdings in two years, withdraw cash and leave.

In addition to Xiao Jin, the company veterans of Jade Bird Digital all have a large number of shares in their hands. They want to make profits and leave with peace of mind more than anyone else. They are different from Xiao Jin. Xiao Jin knows , two years after the backdoor listing of Jade Bird Digital, the stock price is still gratifying, but those executives are different. They don't know what the future market will be like.

After the listing of Jade Bird Digital, the stocks in their hands increased more than ten times, which has reached their psychological expectations. Therefore, they always thought about how to get out as soon as possible through research, and even had a "gentleman's agreement" between them, that is, they signed For one share, you transfer the stocks you want to sell to me privately, and I will give you the money. In the future, after you sell them, it will be all my operations.

Someone even took the initiative to find Xiao Jin and asked him if he was willing.

Of course Xiao Jin is willing, but the risk in this transaction is still too great, so Xiao Jin can only apologize.

This is risk.

What follows is information disclosure. Let’s take Jade Bird Digital as an example. As I just said, these executives are trying their best to reduce their holdings and cash out, and they have also reached private deals, but you have to disclose information every quarter. , which is an obligation that a public company must fulfill.

So private transactions are strictly prohibited first, and secondly, the actual shareholders must have changed, and there will also be financial changes. For such information, non-disclosure or false disclosure will have a negative impact on investors. Your judgment will be misleading. How do you let others play? !

The last one is operating the market. Xiao Jin didn't worry about this before. If he did, it should be a big boss like Wang Xiang who should worry about it.

However, since I opened the [-] million yuan rule, the situation has changed.

You must know that the market value of many companies currently is not high, that is, small-cap stocks, let alone [-] million, even tens of millions of transactions will greatly affect the stock price trend.

The institutional account of Advance Investment has been traded by Xiao Jin in the past few days. He has deliberately avoided trading single stocks and tried to diversify his investments so as not to attract regulatory attention.

But the current assets of 800 million are not much. If it really reaches the scale of [-] million yuan in the future, or if you open a billion-dollar rule or a [-]-billion rule in the future, then will manipulating the market have something to do with you?

Looking at the penalties, in addition to fines, there is another thing that makes Xiao Jin most uncomfortable, and that is the ban on market entry.

Don’t think that if you ban me, I can continue to trade through the accounts of relatives and friends. However, you have obviously underestimated the determination of supervision. All the above people will become the focus of supervision. Since people dare to set such rules , there will definitely be a way to deal with you!

Today's compliance training made Xiao Jin feel heartbroken!

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