2. Legal basis: Securities Investment Law
Article 120 Anyone who, in violation of the provisions of this Law, establishes a fund management company without approval or engages in the management of publicly offered funds without authorization shall be banned or ordered to make corrections by the securities regulatory body, and his illegal income shall be confiscated, and he shall also be fined from one time to five times his illegal income. If there is no illegal income or the illegal income is less than one million yuan, a fine of not less than one hundred thousand yuan but not more than one million yuan shall be imposed. Give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of more than 30,000 yuan and less than 300,000 yuan.
If a fund management company, in violation of the provisions of this Law, arbitrarily changes its shareholders, actual controllers or other major matters holding more than 5% of the shares, it shall be ordered to make corrections, confiscate its illegal income and impose a fine of more than/kloc-0 and less than 5 times its illegal income; If there is no illegal income or the illegal income is less than 500,000 yuan, a fine of not less than 50,000 yuan but not more than 500,000 yuan shall be imposed. Give a warning to the directly responsible person in charge and impose a fine of more than 30,000 yuan10,000 yuan.
Article 121 If the directors, supervisors, senior managers and other employees of the fund manager and the senior managers and other employees of the special fund custody department of the fund custodian fail to report in accordance with the provisions of the first paragraph of Article 18 of this Law, they shall be ordered to make corrections and be fined not less than 30,000 yuan but not more than 100,000 yuan.
Fund managers and fund custodians who violate the provisions of the second paragraph of Article 18 of this Law shall be ordered to make corrections and be fined not less than 100,000 yuan but not more than 1 million yuan; Give a warning to the directly responsible person in charge and other directly responsible personnel, suspend or revoke the qualification of fund practice, and impose a fine of more than 30,000 yuan and less than 300,000 yuan.
Article 122 Where directors, supervisors, senior managers and other employees of fund managers and senior managers and other employees of special fund custody departments of fund custodians violate the provisions of Article 19 of this Law, they shall be ordered to make corrections, their illegal income shall be confiscated, and they shall also be fined from one time to five times their illegal income; If there is no illegal income or the illegal income is less than one million yuan, a fine of not less than one hundred thousand yuan but not more than one million yuan shall be imposed; If the circumstances are serious, the qualification of the fund shall be revoked.
Article 123 Fund managers and fund custodians who, in violation of the provisions of this Law, fail to conduct separate management or account management of fund property shall be ordered to make corrections and be fined between 50,000 yuan and 500,000 yuan. Give a warning to the directly responsible person in charge and other directly responsible personnel, suspend or revoke the qualification of fund practice, and impose a fine of more than 30,000 yuan and less than 300,000 yuan.
Article 124 Fund managers, fund custodians, their directors, supervisors, senior managers and other employees who commit any of the acts listed in Article 21 of this Law shall be ordered to make corrections, their illegal income shall be confiscated, and they shall also be fined from one time to five times their illegal income. If there is no illegal income or the illegal income is less than one million yuan, a fine of not less than one hundred thousand yuan but not more than one million yuan shall be imposed; If a fund manager or fund custodian commits the above acts, it shall also give a warning to the directly responsible person in charge and other directly responsible personnel, suspend or revoke the qualification of fund practice, and impose a fine of not less than 30,000 yuan but not more than 300,000 yuan.
The property and income obtained by fund managers, fund custodians, directors, supervisors, senior managers and other employees due to embezzlement and misappropriation of fund property shall be classified as fund property. However, if there are other provisions in laws and administrative regulations, those provisions shall prevail.
Article 125 If a shareholder or actual controller of a fund manager violates the provisions of Article 24 of this Law, he shall be ordered to make corrections, his illegal income shall be confiscated, and he shall be fined between one and five times his illegal income. If there is no illegal income or the illegal income is less than one million yuan, a fine of not less than one hundred thousand yuan but not more than one million yuan shall be imposed; Give a warning to the directly responsible person in charge and other directly responsible personnel, suspend or revoke the qualification of fund or securities business, and impose a fine of not less than 30,000 yuan but not more than 300,000 yuan.
Article 126 Anyone who engages in fund custody business without approval shall be ordered to stop, his illegal income shall be confiscated, and a fine of not less than one time but not more than five times his illegal income shall be imposed; If there is no illegal income or the illegal income is less than one million yuan, a fine of not less than one hundred thousand yuan but not more than one million yuan shall be imposed; Give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of more than 30,000 yuan and less than 300,000 yuan.
Article 127 Fund managers and fund custodians who, in violation of the provisions of this Law, make mutual contributions or hold shares shall be ordered to make corrections and may be fined not more than 100,000 yuan.
Article 128 Whoever, in violation of the provisions of this Law, publicly raises funds without authorization or in disguised form shall be ordered to stop, return the raised funds and the added interest on bank deposits for the same period, confiscate the illegal income, and impose a fine of more than 1% and less than 5% on the raised funds. Give a warning to the directly responsible person in charge and other directly responsible personnel and impose a fine of not less than 50,000 yuan but not more than 500,000 yuan.
Article 129 Whoever, in violation of the provisions of Article 60 of this Law, uses the raised funds shall be ordered to return them, his illegal income shall be confiscated, and he shall be fined between one and five times his illegal income; If there is no illegal income or the illegal income is less than 500,000 yuan, a fine of 50,000 yuan to 500,000 yuan shall be imposed; Give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of more than 30,000 yuan and less than 300,000 yuan.
Article 130 If a fund manager or fund custodian commits one of the acts listed in Items 1 to 5 and 7 of Paragraph 1 of Article 74 of this Law, or violates the provisions of Paragraph 2 of Article 74 of this Law, he shall be ordered to make corrections and be fined not less than 100,000 yuan but not more than 1 million yuan; Give a warning to the directly responsible person in charge and other directly responsible personnel, suspend or revoke the qualification of fund practice, and impose a fine of more than 30,000 yuan and less than 300,000 yuan.
Fund managers and fund custodians who commit the acts mentioned in the preceding paragraph and use fund property shall be classified as fund property. However, if there are other provisions in laws and administrative regulations, those provisions shall prevail.
Article 131 If a fund manager or fund custodian commits any of the acts listed in Item 6, Paragraph 1, Article 74 of this Law, he shall be punished in accordance with the relevant provisions of the Securities Law of People's Republic of China (PRC), and the qualifications of the directly responsible person in charge and other directly responsible persons shall be suspended or revoked.
Article 132 If the fund information disclosure obligor fails to disclose the fund information according to law or the disclosed information contains false records, misleading statements or major omissions, it shall be ordered to make corrections, confiscate the illegal income and impose a fine of more than100000 yuan100000 yuan; Give a warning to the directly responsible person in charge and other directly responsible personnel, suspend or revoke the qualification of fund practice, and impose a fine of more than 30,000 yuan and less than 300,000 yuan.
Article 133 If a fund manager or fund custodian fails to convene a general meeting of fund share holders in accordance with regulations, it shall be ordered to make corrections and may be fined not more than 50,000 yuan; Give a warning to the directly responsible person in charge and other directly responsible personnel, and suspend or revoke the qualification of fund practice.
Article 134 Whoever, in violation of the provisions of this Law, engages in securities investment activities by using "fund", "fund management" or similar names without registration shall have his illegal income confiscated and be fined not less than one time but not more than five times. If there is no illegal income or the illegal income is less than one million yuan, a fine of not less than one hundred thousand yuan but not more than one million yuan shall be imposed. Give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of more than 30,000 yuan and less than 300,000 yuan.
Article 135 If a non-public offering fund is raised in violation of the provisions of this Law and the fund manager fails to put it on record, a fine of not less than 100,000 yuan but not more than 300,000 yuan shall be imposed. Give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of more than 30,000 yuan10,000 yuan.
Article 136 Whoever, in violation of the provisions of this Law, privately places or transfers fund shares to units or individuals other than qualified investors shall have his illegal income confiscated and be fined between one and five times his illegal income; If there is no illegal income or the illegal income is less than one million yuan, a fine of not less than one hundred thousand yuan but not more than one million yuan shall be imposed. Give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of more than 30,000 yuan and less than 300,000 yuan.
Article 137 Whoever, in violation of the provisions of this Law, engages in the fund service business of publicly offered funds without authorization shall be ordered to make corrections, his illegal income shall be confiscated, and he shall be fined from one time to five times his illegal income; If there is no illegal income or the illegal income is less than 300,000 yuan, a fine of100,000 yuan but not more than 300,000 yuan shall be imposed. Give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of more than 30,000 yuan10,000 yuan.
Article 138 If a fund sales organization fails to fully disclose the investment risks to investors and misleads investors to buy fund products that are not commensurate with their risk-taking ability, it shall be fined from 100,000 yuan to 300,000 yuan; If the circumstances are serious, it shall be ordered to stop the fund service business. Give a warning to the directly responsible person in charge and other directly responsible personnel, revoke the qualification of fund practice, and impose a fine of more than 30,000 yuan10,000 yuan.
Article 139 If a fund sales payment institution fails to transfer the fund sales settlement funds in accordance with the regulations, it shall be fined not less than 100,000 yuan but not more than 300,000 yuan; If the circumstances are serious, it shall be ordered to stop the fund service business. Give a warning to the directly responsible person in charge and other directly responsible personnel, revoke the qualification of fund practice, and impose a fine of more than 30,000 yuan10,000 yuan.
Article 140th whoever misappropriates the fund sales settlement funds or fund shares shall be ordered to make corrections, confiscate the illegal income and impose a fine of more than/kloc-0 and less than 5 times the illegal income; If there is no illegal income or the illegal income is less than one million yuan, a fine of not less than one hundred thousand yuan but not more than one million yuan shall be imposed. Give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of more than 30,000 yuan and less than 300,000 yuan.
Article 141 If the fund share registration institution fails to properly keep or back up the fund share registration materials, it shall be ordered to make corrections, given a warning and fined between 100,000 yuan and 300,000 yuan; If the circumstances are serious, it shall be ordered to stop the fund service business. Give a warning to the directly responsible person in charge and other directly responsible personnel, revoke the qualification of fund practice, and impose a fine of more than 30,000 yuan10,000 yuan.
If the fund share registration institution conceals, forges, falsifies or destroys the fund share registration information, it shall be ordered to make corrections, and be fined at least100000 yuan1000000 yuan, and ordered to stop the fund service business. Give a warning to the directly responsible person in charge and other directly responsible personnel, revoke the qualification of fund practice, and impose a fine of more than 30 thousand yuan and less than 300 thousand yuan.
Article 142 Fund investment consulting institutions, fund evaluation institutions and their employees who, in violation of the provisions of this Law, engage in investment consulting and fund evaluation business shall be fined between 100,000 yuan and 300,000 yuan; If the circumstances are serious, it shall be ordered to stop the fund service business. Give a warning to the directly responsible person in charge and other directly responsible personnel, revoke the qualification of fund practice, and impose a fine of more than 30,000 yuan10,000 yuan.
Article 143 If an information technology system service institution fails to provide relevant information technology system materials to the the State Council securities regulatory authority in accordance with the regulations, or the information technology system materials provided are false or have major omissions, it shall be ordered to make corrections and be fined more than 30,000 yuan100,000 yuan. Give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of 1 10,000 yuan but not more than 30,000 yuan.
Article 144 If an accounting firm or law firm fails to perform its duties diligently and the documents issued contain false records, misleading statements or major omissions, it shall be ordered to make corrections, its business income shall be confiscated, its relevant business license shall be suspended or revoked, and a fine of not less than/kloc-0 but not more than 5 times its business income shall be imposed. Give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of more than 30,000 yuan10,000 yuan.
Article 145 If a fund service institution fails to establish an emergency risk management system and a disaster backup system, or discloses non-public information related to fund share holders and fund investment operation, it shall be fined100000 yuan but not more than 300000 yuan; If the circumstances are serious, it shall be ordered to stop the fund service business. Give a warning to the directly responsible person in charge and other directly responsible personnel, revoke the qualification of fund practice, and impose a fine of more than 30,000 yuan10,000 yuan.
Article 146 Anyone who violates the provisions of this Law and causes damage to fund property, fund share holders or investors shall be liable for compensation according to law.
In the course of performing their duties, fund managers and fund custodians who violate the provisions of this Law or the provisions of the fund contract and cause damage to fund property or fund share holders shall be liable for compensation according to law; * * * If the peers cause damage to the fund property or fund share holders, they shall be jointly and severally liable for compensation.
Article 147 Any staff member of the securities regulatory body who neglects his duty, abuses his power, engages in malpractices for personal gain or takes advantage of his position to ask for or accept other people's property shall be given administrative sanctions according to law.
Article 148 Whoever refuses or obstructs the securities regulatory body and its staff from exercising their functions and powers of supervision, inspection and investigation according to law without resorting to violence or threats shall be given administrative penalties for public security according to law.
Article 149 In case of violation of laws, administrative regulations or relevant provisions of the State Council securities regulatory authority, if the circumstances are serious, the State Council securities regulatory authority may take measures to prohibit the relevant responsible persons from entering the securities market.
Article 150 Whoever violates the provisions of this Law and constitutes a crime shall be investigated for criminal responsibility according to law.
Article 151 Whoever violates the provisions of this Law shall bear civil liability for compensation and pay a fine. If its property is insufficient to pay at the same time, it shall bear civil liability for compensation first.
Article 152 In accordance with the provisions of this Law, the civil compensation liabilities and fines of fund managers, fund custodians and fund service institutions shall be borne by the fund managers, fund custodians and fund service institutions with their inherent property.
Fines, fines and confiscated illegal income collected according to law shall all be turned over to the state treasury.