Court rejects plea against CSRC decision

The Beijing No 1 Intermediate People's Court on Friday rejected a plea filed by a former executive of Everbright Securities Co challenging an earlier decision of the China Securities Regulatory Commission.

In its ruling, the court said in its judgment that the appellant may have the decision reviewed in the Beijing High People's Court, if it is dissatisfied with the decision rendered.

Yang Jianbo, former general manager of the strategic transaction department of the brokerage firm, had sued the commission in April at the Beijing No 1 Intermediate People's Court after the CSRC fined and banned him for life last year from the securities industry for insider trading.