Shenzhen CSRC Office Fines Former Fund Manager for Insider Trading, Undisclosed Securities Investment

China's Shenzhen office of the China Securities Regulatory Commission (CSRC) has issued an administrative penalty against a former fund manager surnamed Zhang for two violations: trading stocks using non-public information and failing to report securities investments as required for fund industry personnel, according to Jiemian News. The regulator said the scale of the “convergent trading” involved was 7.6856 million yuan ($1.07 million). It confiscated 75,200 yuan in illegal gains and imposed a 340,000 yuan fine, with the decision reflecting a combined penalty based on multiple illegal acts.