recently
The SFC published a copy
Tickets involving two "super bulls".
Wang Xiao'an, Fang Shixiong
Because of the act of borrowing or lending securities
Punished by the Securities Regulatory Commission
Wang Xiaoan, male, born in August 1966, lives in Hangzhou, Zhejiang Province. Fang Shixiong, female, born in November 1956, lives in Hangzhou, Zhejiang Province.
In accordance with the relevant provisions of the Securities Law, the China Securities Regulatory Commission (CSRC) filed a case for investigation into Wang Xiaoan and Fang Shixiong's borrowing and lending of securities and futures accounts, and informed the parties of the facts, reasons, and basis for the administrative punishment and the rights enjoyed by the parties in accordance with the law. The parties did not submit statements or defenses, nor did they request a hearing. The investigation and handling of this case have now been concluded.
After investigation, Wang Xiaoan and Fang Shixiong have the following illegal facts:
The first is to lend or borrow securities accounts to engage in transactions. From March 1, 2020 to October 27, 2023, Fang Shixiong lent his GF Securities and Tianfeng Securities accounts to Wang Xiao'an.
The second is to lend or borrow futures accounts to engage in transactions. From August 1, 2022 to October 27, 2023, Fang Shixiong lent his futures account to Wang Xiao'an.
The China Securities Regulatory Commission stated that the above-mentioned illegal facts are supported by evidence such as securities account information and transaction records, futures account information and transaction records, bank account information and capital flows, and records of relevant personnel's interrogations, which are sufficient to determine.
The CSRC believes that Wang Xiaoan and Fang Shixiong's borrowing and lending of securities accounts violated the provisions of Article 58 of the Securities Law and constituted the circumstances described in Article 195 of the Securities Law. Wang Xiaoan and Fang Shixiong's acts of borrowing and lending futures accounts violated the provisions of Article 18, Paragraph 2 of the Futures and Derivatives Law, and constituted the circumstances described in Article 128 of the Futures and Derivatives Law.
According to the facts, nature, circumstances and degree of social harm of the parties' illegal acts, the China Securities Regulatory Commission decided to order Wang Xiaoan and Fang Shixiong to make corrections, give warnings, and impose fines of 500,000 yuan respectively on Wang Xiaoan and Fang Shixiong's borrowing of securities accounts and Fang Shixiong's lending of securities accounts in accordance with the provisions of Article 195 of the Securities Law.
In accordance with the provisions of Article 128 of the Futures and Derivatives Law, Wang Xiaoan and Fang Shixiong were ordered to make corrections, given warnings, and fined 500,000 yuan respectively.
To sum up, Wang Xiaoan and Fang Shixiong were ordered to make corrections, given warnings, and fined 1 million yuan respectively.
What is "Super Niusan"?
The so-called "super bull scatter" usually refers to those individual investors who hold a large number of shares in the capital market and can have a significant impact on the price of individual stocks. The phenomenon of super bullishness is a unique product of the development stage of the mainland securities market, and this group usually enters the capital market earlier and has more investment experience than ordinary stockholders.
According to public information, Wang Xiaoan was born in Ruian, Wenzhou in 1966 and now lives in Hangzhou. In his early years, he worked as a rural teacher in a township middle school, and later turned to the investment industry, investing in both stocks and futures, and is one of the most well-known bulls in the market at present. At present, it has entered the top ten shareholders of many listed companies.
There are many rumors about him in the market. It is rumored that he made a profit of hundreds of millions of yuan in the 2008 financial crisis, a net profit of 2 billion yuan in the long rubber market in 2009, and an account in the cotton rise market in 2010 from 50 million yuan to 600 million yuan...... The market even rumored that it was worth 40 billion yuan. However, there is no way to verify the above rumors.
Fang Shixiong is also a super cow. According to public information, Fang Shixiong is known for being good at finding high-quality stocks with low valuations and high growth, and her investment philosophy is to focus on market trends and keep up with hot topics. She usually holds positions for a long period of time and pursues long-term stable returns.
Some people think that "Super Niu San" is very clever
Some people feel that it has created an unfair investment market
For a long time, public opinion's evaluation of "super bull scattered" tends to be polarized.
In the eyes of the appreciators, "Super Bull San" has clever investment skills, can accurately analyze market trends, and is especially good at finding opportunities in an environment of high market volatility or uncertainty, and achieving profits through its precise operations, and then obtaining huge wealth.
In the eyes of critics, the reason why "Super Bull" can capture market dynamics more quickly is due to its own information and capital advantages, while ordinary investors may be in a disadvantageous position due to their limited access to information. What's more, this asymmetry and regulatory lag provide an opportunity for Super Bull to use its financial advantage to manipulate the market.
Data screen
"Lending or borrowing someone else's securities account"
Why was you penalized?
Lending, or borrowing another person's securities account, refers to the act of an individual or institution providing a securities account under his or her name to a person other than the account holder, or using another person's securities account to conduct stock trading. Borrowing or lending securities accounts allows real traders to hide their true identities and evade the scrutiny of regulators, which can easily lead to market manipulation, insider trading and other violations of laws and regulations. As illicit funds can be traded frequently through borrowed securities accounts to disguise the source of the funds, the related acts may also be linked to a wider range of criminal activities.
In addition, the trading activity of borrowing an account can have a negative impact on the credit history of the nominal account holder and even lead to the loss of their property. At the same time, other investors in the market can also be hurt by market distortion. Therefore, the act of borrowing or lending securities accounts is considered an illegal operation in many countries and regions, and is expressly prohibited by the securities laws of the People's Republic of China.
However, in the eyes of many investors, borrowing, especially lending securities accounts, does not seem to be a big deal. In real life, it is not an isolated case that due to various reasons, the illegal use of another person's securities account or the illegal provision of one's own securities account to others is not an isolated case.
According to the provisions of the Securities Law, if you lend or borrow another person's securities account, 500,000 yuan is already the maximum penalty. Market participants believe that judging from the existing penalty cases, this kind of maximum penalty is relatively rare, especially for lenders.
Moving a knife on a phenomenon that seems to be taken for granted, and the blade is the market darling "super bullish" in the eyes of everyone, showing that the regulatory concept of "long teeth and thorns" is taking root.
past
"Super Niu San" has a lot of aura on it
Right now
The penalty for "Super Bulls" is obviously a lesson
For the average investor
Instead of envying these "super bulls" all day long
It's better to be a well-behaved market participant
After all, only everyone follows the rules
The development and prosperity of this market can be sustained
Sources: Securities Times, CCTV Finance, Brokerage China, Southern Metropolis Daily, Nanfang Daily, etc
Editor-in-charge: Li Jiani
Editor: Anne Xu