On 9 Sept. 2022, China’s Supreme People’s Court, the Supreme People’s Procuratorate, the Ministry of Public Security, and the China Securities Regulatory Commission jointly released typical cases on securities crimes.
A total of five cases were included in this batch, which involved offences of illegal disclosure and non-disclosure of important information, transactions based on non-public information, illegal insider trading, leakage of insider information, and the betrayal of listed companies which damaged the company’s interests.
These cases, covering the common and frequent crimes in China’s capital markets as well as new crimes emerging in recent years, address the most typical issues, including:
1. to determine whether the defendants failed to comply with the obligation of information disclosure;
2. to determine whether the practitioners of private equity funds are accomplices in the crime of transactions based on non-public information; and
3. to distinguish between the crime of joint insider trading and the crime of leaking insider information.
According to the relevant data, from 2021 to June 2022, Chinese procuratorates across the country had prosecuted 376 people for various types of securities crimes and handled an array of cases involving financial fraud, market manipulation, insider trading, and other priority areas.
Cover Photo by Jeremy Cai on Unsplash
Contributors: CJO Staff Contributors Team