An asset management investment manager at an insurance company carried out “insider dealing”/“front-running” practices. He was banned from the industry for 10 years, sentenced to 5 years in prison, and ordered to forfeit and pay a total of 90 million yuan.

[Caixin] The Shanghai Third Intermediate People's Court (hereinafter referred to as Shanghai Third Court) recently issued a first-instance verdict in a case involving the crime of trading using non-public information: Liu Jianyi, a senior investment manager of the Equity Investment Department at Huatai Asset Management Co., Ltd. (hereinafter referred to as Huatai Asset), was sentenced to five years in prison and fined 21 million yuan.

According to publicly available information from the Shanghai Third Court, from February 2021 to August 2023, Liu Jianyi served successively as an assistant investment manager and investment manager in Huatai Asset's Equity Investment Department, with decision-making authority over stock trading transactions in accounts, and had access to non-public information related to product account investments or planned investments, trading decisions, execution, and position changes.