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Source Economic Daily
(Li Hualin / tr. by Phil Newell)
Illegal stock speculation is a red line that cannot be touched by securities practitioners. After a group of securities practitioners were centrally punished by the Securities Regulatory Commission for buying and selling stocks in February this year, a number of practitioners were punished for illegal stock trading recently, which attracted attention.
Due to work reasons, securities practitioners may have undisclosed information that is difficult for ordinary investors to obtain, and it is easier to take advantage of information to conduct insider trading and seek illegitimate interests. This undoubtedly infringes upon the legitimate rights and interests of other investors, destroys the "three public" principles of the market, and disturbs the order of market transactions.
In this regard, regulators have always adhered to a zero-tolerance attitude, and the Securities Law also explicitly prohibits securities practitioners from buying and selling stocks. In recent years, the relevant departments are keeping a close eye on secret defense and attacking with heavy punches. Data show that from 2019 to 2023, a total of 67 cases of illegal stock speculation were investigated and dealt with, and 139 people were given administrative penalties.
Why do people always take risks? In the final analysis, they still have a fluke mentality in the face of the temptation of interests, and their awareness of abiding by the law and compliance is weak. Securities practitioners are closer to the stock market, coupled with the strong concealment of stock speculation by using relatives' accounts and borrowing customer accounts, which is more difficult to be accurately monitored, and a small number of practitioners frequently extend their hands in violation of laws and regulations. changing tricks to avoid the "eyes" of supervision, trying to make a fortune in the stock market.
Since the beginning of this year, the regulatory authorities have issued frequent fines to "stand out" for illegal stock speculation, which is to sound the alarm for the industry. Securities practitioners should enhance their awareness of self-discipline, be in awe, guard against fear, and keep the bottom line. Otherwise, once the "red line" of the law is crossed, the price paid will be much higher than the illegal gains.
The frequent occurrence of illegal stock speculation by employees also reflects the defects in the internal control management of some securities firms. In order to optimize their own governance, securities firms should, on the one hand, strengthen the compliance management of their employees, conduct regular legal publicity, guide their employees to cherish their professional reputation, abide by their professional ethics, and obtain legitimate remuneration with excellent professional ability. On the other hand, it is necessary to improve the mechanisms of internal monitoring, self-inspection and self-correction, and accountability, use big data and other scientific and technological means to enhance the ability of accurate discovery, and resolutely punish and clear employees who are seriously out of standard, with the word "strict" in the first place. let employees "dare not, cannot, do not want" to trade stocks illegally.