A crackdown on inside trading in China since the second half of

A crackdown on inside trading in China since the second half of last year has resulted in 39 suspects from over 20 financial institutions being handed over to police, the China Securities Regulatory Commission (CSRC) said on Friday.

Two of the 39 had been punished for criminal acts, while the institutions included HFT Investment Management Co, a joint venture owned by China’s Haitong Securities Co Ltd and France’s BNP Paribas Investment Partners BE Holding, the regulator said on its official microblog.

HFT officials were not immediately available for comment.

The campaign against insider trading in sectors including China’s $1.2 trillion mutual fund industry was launched as part of official efforts to rebuild investor confidence in the country’s lagging stock markets.

Source Reuters