China Merchants Bank employees under investigation by CSRC

The China Securities Regulatory Commission (CSRC) said on Friday that it has recently conducted thorough investigation which involved inspections, law enforcement actions, and routine supervision to address various illegal activities which allegedly include stock trading, by numerous employees of China Merchants Securities.

The CSRC said it has employed a multifaceted approach and applied measures such as criminal accountability, administrative penalties, administrative supervision, and internal accountability.

Administrative penalties were levied against 63 individuals, resulting in a fine totaling 81.73 million yuan, with one person receiving a lifetime ban from the securities market. Additionally, one individual suspected of insider trading was referred to judicial authorities for further action.

Furthermore, administrative supervision measures were imposed on 46 individuals. Among them, 3 were deemed unsuitable candidates, 5 underwent supervisory interviews, and 38 received warning letters.

The CSRC also took administrative supervision measures against China Merchants Securities, including ordering increased compliance inspections, issuing a warning letter to the company's chairman, and conducting supervisory talks with two former compliance directors.

The CSRC is overseeing China Merchants Securities' internal accountability process, ensuring that all violators are interviewed and held accountable.