Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Earn
Launch
CandyDrop
tag
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
Gate Card
Rewards
Square
Latest
Hot
News
Profile

Borrowing other people’s accounts to trade stocks caused a loss of 4.7621 million yuan in 19 years, and securities practitioner Chi Wei was fined 250,000 yuan.

MeNews
ME News Report, May 24 (UTC+8), according to the administrative penalty decision disclosed by the Tianjin Securities Regulatory Bureau, securities practitioners Chi Wei has been involved in borrowing others' securities accounts to buy and sell stocks for 19 years, resulting in a total loss of 4.7621 million yuan, and has been fined 250k yuan. The regulatory authority has determined that his actions violate the securities law provisions that prohibit securities practitioners from directly or indirectly holding or trading stocks under a pseudonym or in someone else's name, constituting illegal behavior. (Source: ODAILY)
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 12
  • 1
  • Share
Comment
Add a comment
Add a comment
APeacockSpreadingItsTailLooks
· 20h ago
Using a pseudonym or borrowed name is not allowed, so what about using your wife's account? Please advise.
View OriginalReply0
GlassCityAfterTheRain
· 05-24 13:22
In 2019, lost 4.76 million and still has to pay a fine of 250k. What is this guy trying to do?
View OriginalReply0
GateUser-4590f4c6
· 05-24 12:30
Loss of 4.76 million, fine of 250k, resulting in a net loss of 5.01 million, a math genius.
View OriginalReply0
GateUser-88d5d071
· 05-24 07:57
2019, from the Nokia era to the AI era, a nostalgic player
View OriginalReply0
BlocktimeBarista
· 05-24 07:40
After quietly checking, I looked to see if I had borrowed someone else's account. Luckily, I'm just poor.
View OriginalReply0
TacoTreasury
· 05-24 07:36
This news made my account feel a bit more friendly and confident.
View OriginalReply0
L2NightRunner
· 05-24 07:31
4.76 million loss + 250k fine, this career cost is a bit high
View OriginalReply0
OrangePeelRadio
· 05-24 07:31
Isn't this provision in the Securities Law outdated? Is it reasonable to completely ban the buying and selling of stocks?
View OriginalReply0
GaslightGardener
· 05-24 07:29
The account went unnoticed for 19 years; the compliance system is essentially useless.
View OriginalReply0
GateUser-16838403
· 05-24 07:29
From now on, the name Chi Wei will be considered socially dead in the industry.
View OriginalReply0
View More

  • Pinned

Sitemap