Violation of laws and regulations in the securities market means that participants and managers in the securities market violate the provisions of laws, regulations and rules, disrupt the order of the securities market and infringe on the legitimate rights and interests of investors in the issuance, trading, management or other related activities of securities. Mainly includes the following behaviors:
(1) Securities fraud. It refers to insider trading, market manipulation, customer fraud, false statements and other behaviors that occur in issuance, trading, management or other related activities.
(1) Insider trading. An insider of insider information of securities trading or a person who illegally obtains insider information buys or sells the securities, or divulges the information, or advises others to buy or sell the securities before the issuance and trading of the securities or other information that has a significant impact on the securities price is made public.
② Manipulate the market. Manipulation of the securities market includes: alone or through collusion, concentrating capital advantages, shareholding advantages or using information advantages to jointly or continuously buy and sell securities, manipulating securities trading prices or securities trading volumes; Collusion with others, trading securities with each other at the time, price and manner agreed in advance, affecting the price or volume of securities trading; Trading securities between accounts actually controlled by them, affecting the price or volume of securities trading; Manipulate the securities market by other means.
③ Deceive customers. Refers to securities companies, securities registration and settlement institutions, securities issuers or distribution agents, etc. Trick investors into buying and selling securities in securities issuance, trading and related activities, and other acts that violate the true wishes of customers and harm their interests. Article 79 of the Securities Law prohibits securities companies and their employees from engaging in the following fraudulent acts that harm the interests of customers: buying and selling securities for customers against the entrustment of customers; Failing to provide the customer with a written confirmation document of the transaction within the specified time; Misappropriating securities entrusted by customers or funds in customers' accounts, buying and selling securities for customers without authorization, or buying and selling securities under the guise of customers; In order to obtain commission income, induce customers to buy and sell unnecessary securities; Providing and disseminating false or misleading information to investors by using the media or other means, and other acts that violate the true meaning of customers and harm their interests.
4 false statements. Issuers, listed companies or other information disclosure obligors fail to disclose information as required, or the information disclosed contains false records, misleading statements or major omissions, which leads investors to make securities investment decisions without knowing the truth.
(2) Other violations. At present, other illegal acts stipulated in China's securities law mainly include securities companies misappropriating clients' funds, issuers, listed companies, issuers and controlling shareholders of listed companies arbitrarily changing the use of raised funds, acquirers or acquirers' controlling shareholders using acquisitions to damage the legitimate rights and interests of acquired companies and their shareholders, illegally opening securities trading places, fabricating and disseminating false information, disrupting the securities market, and so on.
I hope our answer from Guotai Junan Securities Shanghai Branch will satisfy you!
Respondent: Account Manager of Guotai Junan Securities: Manager Hong (employee number: 00930 1)
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