Former senior managers of cemnent firms fined on illegal trades


Updated Tue, 20 Oct 2009 00:00:00 GMT

China's securities regulator CSRC recently decided recently to impose penalties on four senior managers of listed companies for illegal stock trading. Wang Jianchao, former deputy general manager of Anhui Conch Cement Co and Lu Xianbin, former supervisor of Gansu Qilianshan Cement Group, were imposed a fine of 50,000 yuan for violating the regulation under which senior managers are not allowed to sell the shares they hold within six months of purchase, or buy them within six months of sale.

CSRC also imposed warnings on two other senior executives from Guangdong Kingfa Science and Technology Co Ltd for similar violations.