CSRC to beef up market oversight
China will strengthen oversight on the securities market to keep it fair, open and impartial, a senior official said on Wednesday. Jiang Yang, vice-chairman of the China Securities Regulatory Commission, made the remarks while responding to questions about priorities in the next phase of the watchdog’s work. “The regulator will continue to crack down on violations of securities laws and regulations, including insider trading and market manipulation,” Jiang said. So far this year, the CSRC has imposed administrative penalties on 113 cases and issued total fines of 6.4 billion yuan ($943 million), which is 1.5 times last year’s total. Meanwhile, the CSRC has prohibited 30 people from entering the market, almost equivalent to the total number in 2016, Jiang said.