China securities regulator quickens pace of finesStaff Writer | June 17, 2017
China's securities regulator has doled out more fines, totaling almost $1 billion, in the first five months of this year than during the whole of 2016.
Asia $901.65 million by the end of May
The China Securities Regulatory Commission had slapped fines totaling 6.14 billion yuan ($901.65 million) by the end of May on those who violated securities laws, Xinhua reported, citing the China Securities Regulatory Commission (CSRC).
The CSRC suspended 29 people from engaging in securities work over the same period, the regulator said.
Last year, the CSRC punished 183 illegal market activities and handed out fines worth 4.28 billion yuan ($628.52 million), up 288 percent from 2015.
The CSRC published rules at the end of May aimed at preventing major shareholders of listed companies from reducing their holdings in an "intensive, massive and disorderly" manner that "disturbed market order and dented investor confidence." ■