September 22, 2017 / 10:15 AM / a month ago

China stock regulator vows crackdown on capital market misbehavior

SHANGHAI (Reuters) - China’s top securities regulator has vowed to crack down hard on misbehavior including market manipulation, insider trading and collusion with “big crocodiles” in the country’s capital markets.

FILE PHOTO: An investor looks at an electronic screen at a brokerage house in Hangzhou, Zhejiang province, January 26, 2016. REUTERS/China Daily

In a statement on Friday on its website, the China Securities Regulatory Commission (CSRC) said its chairman, Liu Shiyu made the comments at a recent internal meeting.

Liu, also said regulators should nip illegal activities in the bud, with zero tolerance, according to CSRC.

The statement did not say when Liu, who did not identify any of the “big crocodiles”, made his vow to crack down on misbehavior.

Separately, CSRC said on Friday it would simplify disclosure rules regarding corporate restructurings in a bid to shorten the period of share suspensions.

Foreign investors have long complained that Chinese companies tend to suspend their share trading for too long a time.

Reporting by Samuel Shen and John Ruwitch; Editing by Richard Borsuk

Our Standards:The Thomson Reuters Trust Principles.
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