The Paper's reporter Xu Hongwen
The Sichuan Securities Regulatory Bureau's Market Ban Decision No. 1 of 2021 was issued to Liu Jiajie, general manager of the business department of Chengdu Shuncheng Street of Yintai Securities, who was fined 14.3 million yuan for illegal stock speculation in addition to being banned from the market for 3 years.
According to the administrative punishment decision, Liu Jiajie borrowed his second aunt's account to speculate in stocks with a loss of 2.63 million, but the illegal income of stock trading on behalf of the people was 3.5 million. In the face of the investigation of the regulatory authorities, Liu Jiajie argued that he had a serious mental illness, but the regulatory authorities believed that his condition did not affect the determination of the illegal nature of the case.
According to the administrative punishment decision, Liu Jiajie, male, born in December 1982, lives in Wuhou District, Chengdu, Sichuan Province. From July 2005 to February 2019, he worked or held positions in the Chengdu East Avenue Sales Department of Huaxi Securities, the Lime Street Sales Department of Southwest Securities Chengdu, and the Sales Department of Chengdu Shuncheng Street of Yintai Securities. In December 2014, he was appointed as the general manager of the sales department of Chengdu Shuncheng Street of Yintai Securities. On July 1, 2009, he obtained the qualification of securities practitioner. In December 2014, he obtained the qualification of securities investment consulting business.
Borrowing the second aunt's account to speculate in stocks lost 2.63 million yuan, and the number of people speculating on stocks made a profit of 3.5 million
Zhang Mouzhen is the second aunt of Liu Jiajie, and Liu Jiajie actually controls and uses 2 "Zhang Mouzhen" Southwest Securities Accounts, "Zhang Mouzhen" Yintai Securities Accounts and Liangrong Accounts to buy and sell stocks, with a total transaction amount of 423.82 million yuan and a total transaction loss of 2.6302 million yuan. Liu Jiajie obtained a commission commission of 40,100 yuan from the "Zhang Mouzhen" Yintai Securities account through the "Huang Mouxiang" bank account.
In addition, Liu Jiajie privately accepted the client's entrustment to buy and sell stocks, and actually operated 6 accounts such as "Xu Mou" and "Li Mouping".
Specifically, from February 2014 to February 2019, Liu Jiajie privately accepted customer entrustment to operate the "Xu Mou" Yintai Securities account, and the cumulative number of entrusted orders was 43,533, and the cumulative transaction amount was 583346 million yuan. Liu Jiajie borrowed the name of Yintai Securities broker Huang Mouxiang to obtain a trading commission commission of 3.4376 million yuan for the securities account of "Xu Mou".
From August 2015 to February 2019, Liu Jiajie privately accepted the client's entrustment to operate the "Li Mouping" Yintai Securities account, with a total of 1,993 entrusted orders and a cumulative transaction amount of 312.54 million yuan. Liu Jiajie borrowed the name of Yintai Securities broker Huang Mouxiang to obtain a trading commission of 68,800 yuan for the securities account of "Li Mouping".
From May 2018 to February 2019, Liu Jiajie privately accepted the client's entrustment to operate the "Cao" Yintai Securities Securities Account, accumulatively entrusting 319 orders, with a cumulative transaction amount of 12.42 million yuan. It was not found that Liu Jiajie obtained illegal gains through the securities account.
From November 2017 to January 2019, Liu Jiajie privately accepted clients' entrustment to operate the securities accounts opened by three private equity funds in Yintai Securities, namely "United Investment Taoluo", "Golden Butler No. 1" and "Golden Butler No. 3", with a total of 5,453 entrusted transactions and a total transaction amount of 388.23 million yuan. It was not found that Liu Jiajie obtained illegal gains through 3 securities accounts.
In summary, Liu Jiajie privately accepted 3.5064 million yuan of illegal income from the client's entrustment to buy and sell securities.
Self-defense has a mental illness, and the regulator says that it does not affect the determination of the nature of the violation
Regarding the penalty imposed by the CSRC, Liu Jiajie mainly put forward 7 points of defense in his statement and hearing, including saying that he suffered from a serious mental illness, but the CSRC believed that Liu Jiajie's condition did not affect the determination of the illegal nature of the case. Therefore, the defence was not accepted.
In addition, Liu Jiajie also said that with reference to the relevant penalty cases of the CSRC, the proposed penalty amount and the decision to ban the market are too heavy, and the relevant facts are proved through circumstantial evidence, which does not meet the standard of proof of obvious advantages, and there is no illegal behavior, and should not be punished. However, the CSRC stated that the facts of this case are clear, and there is reasonableness, coordination and exclusivity between the evidence in the case and between the evidence and the identified facts, and the evidence can corroborate each other, and eliminate reasonable doubt, forming a complete chain of evidence. The evidentiary materials submitted by Liu Jiajie and his agents during the hearing could not prove that Liu Jiajie did not violate the law during the illegal period determined in this case, and there were many contradictions with the evidence in the case. This case is a quantitative punishment based on Liu Jiajie's illegal circumstances, degree of influence, degree of cooperation, etc., within the statutory range, other administrative punishment cases have nothing to do with this case. Therefore, the defence was not accepted.
To this end, the regulatory authorities issued fines: liu jiajie in the name of others to buy and sell stocks, ordered to deal with illegally held stocks in accordance with the law, fined 800,000 yuan; for Liu Jiajie's private acceptance of customer entrustment to buy and sell securities, ordered corrections, given warnings, confiscated illegal gains of 3.5064 million yuan, and fined 10 million yuan.
In addition, the regulatory authorities also imposed a penalty on Liu Jiajie for taking a 3-year market ban.
Editor-in-Charge: Wang Jie
Proofreader: Liu Wei