Former CSRC Official Jailed for 12 Years for Bribery, Insider Trading

Source: Regulation Asia Editors, Regulation Asia 2020-06-17

The case against the CSRC’s former Hunan bureau head was said to be linked to a probe into CSRC former vice chairman Yao Gang, who was jailed for 18 years in 2018.

A former CSRC (China Securities Regulatory Commission) official has been sentenced to 12 years in prison after a four-year investigation on bribery and insider trading charges, Caixin reported.

Xiong Guosen, former head of the CSRC’s Hunan bureau, came under investigation in June 2016. Public prosecution was initiated in 2018.

According to Caixin, Xiong’s investigation was related to a probe into CSRC former vice chairman Yao Gang, who was sentenced in 2018 to 18 years in prison for taking bribes worth CNY 69.61 million and illegally making CNY 2.1 million in gains from insider trading.

Xiong is said to have personally selected some of the gifts that were sent to Yao.

China Securities Regulatory Commission

Xiong Guosen

Former CSRC Official Jailed for 12 Years for Bribery, Insider Trading

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