BEIJING - Eleven fund management companies were penalized for insider and rat trading, the securities regulator announced Friday.
Five fund management companies, including China AMC and HFT Investment Management Co Ltd, have been prohibited from handling public fund registration for three to six months, while another six firms were asked to rectify their practice by the China Securities Regulatory Commission (CSRC).
The securities regulator launched a crackdown, focusing on 15 fund management companies, last December.
China's assets management sector saw impressive growth last year, with total business scale topping 10 trillion yuan ($1.63 trillion), up 101 percent year on year.
The CSRC will continue to conduct regular checks to increase risk awareness and guard investors' interests, according to the announcement.
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 130349 
