CSRC issues largest penalty ever — US$900 mln

The China Securities Regulatory Commission has issued a massive 5.67 billion yuan (US$900 million) penalty, the largest amount ever, to Beibadao Group and its controller Lin Qingfeng and his daughter, who allegedly leveraged capital and manipulated shares with multi-accounts, Yicai.com reported. The investigation showed that from February to May 2017, Beibadao Group had formed a […]