201620115 At 6: 05 on August 6th, Everbright Securities applied for 180ETF share with a huge amount of funds of 23.4 billion yuan, and the actual transaction amounted to 7.27 billion yuan, which triggered violent market fluctuations and caused adverse social impact.
After the incident, the CSRC filed an investigation. Upon investigation, Everbright Securities sold 6,240 short contracts of stock index futures IF 1309, if1312 * *+02 * * on the same day, with a contract amount of 4.38 billion yuan. Sold180 ETF * * 263 million copies with a value of 654.38+35 million yuan; 689 million copies of 50 ETFs were sold, with a turnover of 654.38+28 million yuan.
The CSRC identified "Everbright Securities used the strategic trading system to buy 180 ETF components with a huge amount of 23.4 billion yuan due to procedural errors, and actually traded 7.27 billion yuan" as inside information. Everbright Securities is an insider, trading stock index futures and ETFs before the disclosure of the above insider information constitutes insider trading, with huge illegal gains and extremely serious circumstances.
This is also the case. After the investigation, the CSRC gave the most severe punishment decision: confiscate the illegal income of Everbright Securities, and impose a fine of five times the illegal income and a fine of 523 million yuan; Yang Jianbo and other four responsible persons were given a warning, fined 600,000 yuan and banned from entering the securities and futures market for life. Yang Jianbo then took the CSRC to court.
It is understood that the first trial, the second trial and the retrial of this case all focus on whether the wrong trading information in this case constitutes insider information, whether the information was made public before Everbright Securities trading, whether Everbright Securities trading constitutes insider trading exemption and the scope of punishment. During the trial, the CSRC fully explained the facts of the case, relevant evidence and legal logic to the court. After strict examination by the court, it was finally recognized by the judicial organs.
The CSRC stated that it will continue to firmly promote comprehensive and strict supervision according to law, accurately crack down on all kinds of illegal acts that endanger market order, and build a bottom line for risk prevention in hell to pay, so as to better serve and ensure financial stability and economic and social development. This case shows once again that the CSRC will never be soft on acts that disrupt the market, disrupt the market order and infringe upon the legitimate rights and interests of investors. hell to pay is determined to safeguard the market order.