Arab Today, arab today exexecutive sues china\s securities regulator
Last Updated : GMT 21:25:08
Arab Today, arab today
Arab Today, arab today

Ex-executive sues China\'s securities regulator

Arab Today, arab today

Arab Today, arab today Ex-executive sues China\'s securities regulator

Beijing - XINHUA

A former executive of Chinese brokerage Everbright Securities is suing the China Securities Regulatory Commission (CSRC), which punished him for insider trading last year. Beijing No.1 Intermediate People's Court has accepted the lawsuit filed by Yang Jianbo, former head of the strategic transaction department of Everbright Securities, according to the court on Tuesday. At 11:05 a.m. on Aug. 16, 2013, due to a computer program error, Everbright Securities mistakenly placed 23.4 billion yuan (3.8 billion U.S. dollars) worth of purchase orders for 180 ETF (exchange-traded funds), of which 7.27 billion yuan were concluded, according to Yang's indictment paper. Yang reported to the CSRC Shanghai branch and the Shanghai Stock Exchange after the incident and later asked traders to sell short index futures and ETF funds to hedge risks according to the direction from Everbright Securities, the indictment paper said. Abnormal trading by Everbright Securities on Aug. 16 caused a 5.96-percent gain in the benchmark Shanghai Composite Index in about three minutes. The commission later that month slapped the company with record penalties totaling 523 million yuan for legal and regulatory violations. Yang Jianbo, together with three other colleagues, were each given an official warning and fined 600,000 yuan and banned from the securities market for life and also banned from the futures market, according to a CSRC statement on Aug. 30. Yang argues that the CSRC punishment has violated the law and infringed on his legal rights. He has asked the court to revoke the punishment, according to the indictment paper. The court did not announce when it will open the trial.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today exexecutive sues china\s securities regulator Arab Today, arab today exexecutive sues china\s securities regulator

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today exexecutive sues china\s securities regulator Arab Today, arab today exexecutive sues china\s securities regulator

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday