Source: Securities industry experts
Two regulatory letters from the Hebei Securities Regulatory Bureau jointly pointed to a case of “rat filing”. Respectively from Shenwan Lingxin Fund andChangjiang SecuritiesHow did the parties involved conspire?
Related ticket
The Hebei Securities Regulatory Bureau, with its full firepower, has issued multiple regulatory letters within a month, and the content of the two fines can be mutually confirmed.
In the administrative fine letter, the Hebei Securities Regulatory Bureau appointed Xu Yuanhang, who was then fund manager of Shenwan Lingxin Intelligent Drive Fund. Because of the job, the fund manager met with Jin Xin, a researcher at the Changjiang Securities Research Institute.
On April 12, 2021, Xu Yuanhang completed the “Jinhong Group“Incorporated into the working procedures of the stock pool, the trading application of” Jinhong Group “began on April 13, and the purchase order was issued immediately after obtaining the trading authorization of” Jinhong Group “on April 15 Subsequently, on April 16, April 19, the fund continued to buy “Jinhong Group” until April 19, when “Jinhong Group” accounted for 6% of the fund’s net asset.
And this fund manager, while performing his job duties, actively extended to the outside world.
From April 15 to 30, 2021, Xu Yuanhang took advantage of joint roadshows, research and other activities to recommend “Jinhong Group” to Jin Xin, and passed on confidential information such as the percentage of “Jinhong Group” in the fund.
Jin Xin, who was informed of the non-public information, instructed his father, Jin, to enter the market, although he himself did not speculate on the stock. He bought “Jinhong Group” before the bottom on April 15, 2021, and bought “Jinhong Group” from April 21 to 30, 2021. Continuing the entrusted purchases, the cumulative transaction amount was 4.1106 million yuan.
For this reason, the Hebei Securities Regulatory Bureau ordered Xu Yuanhang to make corrections and imposed a fine of 500,000 yuan in accordance with the “Securities Investment Fund Law of the People’s Republic of China”.
In accordance with the “Regulation on the Integrity of Securities and Futures Trading Institutions and Their Personnel”, the Hebei Securities Regulatory Bureau issued a warning to Jin Xin and imposed a fine of 30,000 yuan.
Since the fine does not mention the “illegal profit”, experts speculate that it may be caused by investment losses. However, the fines imposed by the parties were 500,000 yuan and 30,000 yuan respectively Compared with the possible consequences, is this appropriate?
Both have resigned
The background of the two sides has been verified by experts.
According to Shenwan Lingxin Intelligent Drive’s previous announcement, Xu Yuanhang has been engaged in financial business since 2011 and later worked in Guotai Fund,Titles sinolink, Huachuang titles. In September 2015, he joined Shenwan Lingxin Fund Management Co., Ltd. as an industry researcher.
According to Tiantian Fund.com, Xu Yuanhang will act as fund manager of Shenwan Lingxin Intelligent Drive Stock A from July 13, 2020 and manager of Shenwan Lingxin Intelligent Drive Stock C from February 25, 2022; A/C fund manager who started A/C fund manager with mixed specialization and new special topics.
On November 14 this year, Xu Yuanhang resigned for personal reasons and did not move to other positions in the company.
Experts Inquired About Weihai Elite Data Only Jin Xin first registered and practiced at Changjiang Securities Research Institute in March 2019, and obtained the qualification of securities analyst in January 2021. At present, he he resigned from Changjiang Securities and his whereabouts are unknown.
By the way, the well-known big V @大强如山 broke the news that more than 30 recent graduates who were interns at the Changjiang Securities Research Institute complained that they were indefinitely late in standing up for their defense, which may delay the signing of graduation contracts .
Compliance responsibility
likeShenwan Hong YuanA public offering fund jointly established by Securities and Mitsubishi UFJ Trust Bank Co., Ltd., many senior executives of Shenwan Lingxin Fund came from Shenwan Hongyuan.
Ms. Wang Feiping, Chief Inspector directly responsible for Compliance Management, was born in 1976 and holds a master’s degree. She worked as a legal counsel in the office of the president of Shenyin & Wanguo Securities and joined Shenwan Lingxin Fund Management Co., Ltd. (formerly Shenwan Paris Fund Management Co., Ltd.) in February 2004 as a director of supervision and audit Headquarters.
Looking at Changjiang Securities, Ms. Hu Yong, the deputy general manager, is also the director of compliance and has a strong regulatory background.
According to the 2021 annual report, Ms. Hu Yong was born in 1970, a member of the Communist Party of China and a master of economics. She is currently the company’s vice president, chief compliance officer and chief risk officer; Lei is a member of the Compliance Management and Integrity Practices Committee of the Securities Association of China and Deputy Director of the Fifth Self-Regulation Management Committee of the Board Members of the Shanghai Stock Exchange. Worked as staff member of Finance Department of Wuhan Securities Company, Deputy General Manager of Wuhan Sales Department of China Science and Technology Corporation, Cadre, Deputy Chief of Staff and Chief of Staff of Institutional Supervision Division of Securities Management Bureau of Wuhan of the China Securities Regulatory Commission and director of the Institutional Supervision Division of the Hubei Supervision Bureau of the China Securities Regulatory Commission. Clerk, Deputy Director of Futures Supervision Department, Deputy Director of New Enterprise Supervision Department, Deputy Director of New Enterprise Supervision Department (in charge of work), Director of Institutional Supervision Department, General Manager of Legal Compliance Department of Changjiang Securities Co ., Ltd., general manager of the audit department.
Can this executive of a securities firm who serves as a member of the Compliance Management and Integrity Practices Committee of the China Securities Association address his violations fairly and reasonably?
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Responsible editor: Yang Hongbu
