China releases securities violation cases as deterrent

The Supreme People's Procuratorate and the China Securities Regulatory Commission released 12 cases of securities legal breaches and crimes on Friday, underlining the top authorities' determination to jointly intensify the crackdown on capital market violations.

The dozen cases, covering fraudulent issuance, information disclosure noncompliance, market manipulation, insider trading and other typical forms of securities violations, outlined the facts of violations, consequent punishments, as well as the implications for market entities to deter potential wrongdoing.

The cases came amid China's stepped-up efforts to intensify the crackdown on securities violations, with a recent meeting of the Central Committee for Deepening Overall Reform having approved a guideline that targets securities wrongdoing.

In the first nine months of the year, the nation's prosecutorial bodies have approved the arrest of 102 individuals and prosecution against 98 persons due to their securities and futures crimes, up 15 percent and 27 percent year-on-year, respectively, said the Supreme People's Procuratorate, the top prosecutorial organ.

The CSRC, the top securities regulator, will continue to intensify the crackdown on securities wrongdoing, strengthen cooperation with judicial authorities, and promote improvements in the rules of securities civil litigation and compensation, Teng Biyan, director of the commission's office of administrative sanction committee, said at a news conference on Friday.