The Tianjin Securities Regulatory Bureau said Chi Wei used other people’s stock accounts for 19 years, violating rules that bar securities practitioners from holding or trading shares under others’ names.
The Tianjin Securities Regulatory Bureau fined securities practitioner Chi Wei 250,000 yuan after finding that he used other people’s stock accounts for 19 years. According to the regulator, the trading activity resulted in losses of 4.7621 million yuan and violated securities law provisions that prohibit industry personnel from holding or trading stocks under other people’s names. The case underscores enforcement of compliance rules designed to restrict market participation by licensed securities practitioners in ways that could create regulatory concerns.