CSRC nets more fish in illegal trading swoop

Regulator imposes combined fines of $315 million for 12 cases of market manipulation

China's securities watchdog on Friday imposed a fresh round of heavy penalties on several individual and institutional investors for market manipulation in an attempt to crack down on the rampant illegal activities that have plagued the country's stock market.

The China Securities Regulatory Commission reported 12 cases of market manipulation on Friday and imposed a combined fine exceeding 2 billion yuan ($315 million).