Ex-Shenzhen exec fined for illegal trades

SHANGHAI : China’s securities regulator has fined a former Shenzhen bourse official 251 million yuan (RM161 million) for making illegal trades to profit from company initial public offerings, underscoring Beijing’s drive to root out bad behaviour in its equities markets. The China Securities and Regulatory Commission (CSRC) said on Friday it had fined Feng Xiaoshu, formerly a member of the Shenzhen exchange’s listing approvals committee, and confiscated 248 million yuan he made through the trades.