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Clifford Chance

Clifford Chance
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China regulator levies huge fine for market manipulation

31 March 2017

China's securities regulator, the China Securities Regulatory Commission (CSRC), has levied one of its largest ever fines for market manipulation as authorities ramp up enforcement efforts.  The CSRC penalised a businessman and his associates with confiscation orders and fines in excess of RMB1.2 billion (US$174 million) for manipulation of mainland-listed stocks.

The latest action follows the regulator's RMB3.5 billion (US$507 million) fine of a separate party in February 2017 for market manipulation arising from false information disclosures.  The news comes as the CSRC and Hong Kong's Securities and Futures Commission (SFC) ramp up their joint efforts to tackle cross-border market manipulation.

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