Rat Trading 老鼠倉交易
Rat trading is a type of insider trading in which investment fund managers illicitly use private information, accessed often through their company, for personal gain. Rat traders use this confidential information profitably by trading through secret 「rat accounts」 controlled by the manager for relatives and friends. Sometimes a rat trader will first use client money to influence share prices in order to benefit the investments made with personal funds. In February 2009, the Standing Committee of the National People’s Congress passed a revision to the Criminal Act, elevating rat trading to a criminal offense punishable by up to 10 years of imprisonment. The China Securities Regulatory Commission has been cooperating with stock exchanges and using big data technologies to comb through huge amounts of trading data to catch rat traders.
老鼠倉交易是內幕交易的一種，是基金經理乘職務之便，非法利用未公開的信息，通過設立在親友名下的「老鼠倉」買賣股票而謀取私利。老鼠倉的控制人經常會利用基金公司替客戶管理的資金影響證券的價格以擴大收益，如事先用老鼠倉大量買下某隻股票，再操縱客戶資金買下同只股票，推高其價格。2009年2月，全國人大常委會通過一項刑法修正案，首次將老鼠倉交易列為犯罪行為，最高可判處十年監禁。近幾年來，證監會已破獲了多起老鼠倉案件，並與證券交易所合作，利用大數據技術加強對海量交易信息的監控和分析。
In the News
Deng Ruixiang, a member of a 12-person committee under the China Securities Regulatory Commission, which examines and approves companies』 requests for initial public offerings, has been dismissed and placed under investigation for alleged involvement in rat trading, the securities regulator said on September 19.
更多專業新聞英語資訊搶先看，請訂閱我們的微信公眾號「caixinenglish」。