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CSRC will make greater efforts to combat insider trading

By Li Zhenyu (People's Daily Online)

16:42, June 05, 2012

BEIJING, June 5 (People's Daily Online) -- The China Securities Regulatory Commission (CSRC), China's top securities regulator, recently said in a statement on its website that it will continue to work on improving the capital market credibility and make greater efforts to combat insider trading.

The commission is mulling the Interim Measures for Supervision and Administration of Credibility of Securities and Futures Markets, in order to enhance integrity supervision of main market players and their acts. It is currently seeking public advice on a draft version of the interim measures, the statement said.

"We will make greater efforts to combat insider trading, market manipulation, fraud listings, false disclosures, and other violations of related laws and regulations," said the statement.

While continuing to implement tough measures, the commission may learn from some effective measures taken by foreign counterparts, according to the statement.

For instance, the reconciliation system has played an important role in the handling of insider trading cases in certain countries. Under the reconciliation system, the investigated parties accept the moderate punishment imposed by regulatory authorities, but neither acknowledges nor denies the charges. This will help increase regulatory effectiveness, and deter prospective rule-breakers. In addition, the victims will receive compensation relatively fast, the statement said.

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