The trap of illegal futures activities
Case summary
2065438+September 2004, a public security bureau in Jiangxi Province received reports from many people that Zou and others illegally organized investors to participate in stock index futures trading, resulting in serious losses for investors.
After investigation, Zou borrowed other people's stock index futures accounts and assigned Yang, Zhang and others to encourage local people to participate in stock index futures trading. Zou charges investors a handling fee for each 300 yuan, and investors do not need to pay a deposit, but only settle the trading profit and loss. More than a dozen inexperienced people, under the temptation of propaganda such as "simple operation and quick income", invested about 6.5438+0.87 million yuan. Due to the lack of investment experience and professional investment ability, the cumulative loss was 6.5438+0.58 million yuan (including the handling fee charged by Zou and others of more than 400,000 yuan). The actions of Zou and others violated the relevant provisions of the Regulations on the Administration of Futures Trading, which constituted engaging in futures business without authorization. At present, the local public security organs have put Zou and others on file for investigation on suspicion of illegal business operations.
Risk warning
Investors must trade stock index futures through legal futures institutions. The list of these institutions can be found on the websites of China Securities Regulatory Commission and China Futures Association. Stock index futures trading is risky and professional. Before trading stock index futures, investors should first assess whether they have the corresponding risk identification and tolerance, and whether they have the conditions stipulated by the futures exchange. They must never listen to people "fool", bypass the regulations and engage in transactions beyond their ability.
Case summary
One day on 20 14, investor Li received a phone call. The other party claims to be a member of a well-known precious metals exchange in China (hereinafter referred to as "the company" or "the company") and conducts spot trading of precious metals such as silver. Flexible trading methods, long trading time, t+0, that is, buy and sell, unlimited times, more short can also make a lot of money. It doesn't matter if investors don't understand. The company has expert guidance and can also operate on behalf of investors. All profits belong to investors. The company only charges the prescribed handling fee. If investors have questions, they can also go to the company for on-site inspection.
Hearing this, Li was dubious. To be on the safe side, Li decided to "step on the spot" at the company's business site. According to the address provided by the company's salesman, Li came to a high-end office building in Chengdu High-tech Zone and was warmly received by the company. The company is "decent" and orderly, and many investors come to consult. Some people are asking about the negotiation, while others are going to open an account. Li thinks this company is "quite formal". After a brief understanding, he immediately opened an account and invested 70,000 yuan. Because he didn't understand, he entrusted the company's "experts" to operate. A few days later, when he checked his account, he lost more than half of his money.
After feeling cheated, Li reported to the local government financial office. After investigating and collecting relevant evidence, the Financial Office requires the Securities Regulatory Bureau to characterize the company's behavior according to law. According to the evidence held by the Finance Office, the company adopts the margin system to conduct standardized contract transactions, allowing traders to complete the transactions through hedging and flat positions. According to the Regulations on the Administration of Futures Trading and the relevant documents of the State Council, the trading behavior organized by this company has the characteristics of futures trading, which is suspected of constituting the crime of illegally organizing futures trading activities. At present, the public security organs have filed an investigation against the company.
Risk warning
According to the Regulations on the Administration of Futures Trading and the relevant regulations of the State Council, except for the financial supervision department of the State Council and the exchange approved by the State Council, other trading places shall not engage in the trading of commodities or rights and interests by centralized bidding, electronic matching and continuous trading, nor shall they conduct standardized contract transactions by centralized means. Investors must be cautious when participating in the trading of precious metals such as silver, and beware of falling into the trap of "spot trading" and causing property losses; Once you find yourself infringed by such illegal acts, you should report it to the local government or public security organs in time.