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Error costs Everbright millions

Updated: 2013-08-31 08:14
By Chen Jia ( China Daily)

4 executives banned from industry after computerized trading mistake

It took only three minutes. The operational error made by Everbright Securities two weeks ago has earned it a 523 million yuan ($85 million) fine from the nation's top securities regulator, for insider trading, release of misleading information, and muffed risk control.

That is the largest fine the regulator has ever given a securities brokerage in the history of the country's stock market.

Error costs Everbright millions