Trading 900 million ultimately resulted in a loss and being fined money! Suspected to be the former general manager of a securities firm?, weirdo The "veteran" figure of a securities firm secretly speculates in 21 years of securities | stocks | veteran

On June 16th, the Anhui Securities Regulatory Bureau issued an administrative penalty announcement, imposing a fine of 250000 yuan on Yang Aimin, a former employee of Huaan Securities, for illegally buying and selling stocks. It is understood that from June 2, 2000 to November 19, 2021, Yang Aimin controlled and used other people's securities accounts to engage in stock trading, trading a total of 390 stocks with a total trading amount of 908 million yuan. After deducting relevant taxes and fees, the actual trading losses were incurred.

It is noteworthy that on the evening of April 1st last year, Huaan Securities announced that the then general manager Yang Aimin suddenly resigned due to "personal reasons" before his term had expired. And Yang Aimin, the former general manager of Hua'an Securities, not only shares the same name and surname as Yang Aimin, who was punished by the Anhui Securities Regulatory Bureau this time, but was also born in September 1968 and resigned in 2022.

Traded 900 million yuan in 2021

The Anhui Securities Regulatory Bureau revealed that Yang Aimin, a former securities practitioner who was punished this time, was born in September 1968 and resides in Shushan District, Hefei City, Anhui Province. On June 2, 2000, Yang Aimin joined Hua'an Securities and resigned on August 18, 2022, during which he was a securities practitioner.

The Anhui Securities Regulatory Bureau found that during the period from June 2, 2000 to November 19, 2021, Yang Aimin controlled and used the "Zhao Mouwen" securities account to engage in stock trading, and traded 390 stocks in total, with a cumulative transaction amount of 0.908 billion yuan. After deducting relevant taxes and fees, the transaction lost money. The transaction was funded by Yang Aimin and his family.

The above-mentioned securities account was opened in 1993 at the Anqing Road branch of Hua'an Securities in Hefei, and the corresponding third-party custodian bank account is China Construction Bank.

"The above illegal facts are supported by evidence such as labor contracts, relevant securities account opening and trading information, bank account information, inquiry records, and exchange profit calculation results, which are sufficient to be determined. In response to the aforementioned evidence from the Anhui Securities Regulatory Bureau, Yang Aimin did not make any statements or defense opinions, nor did he request a hearing.". The investigation and trial of this case have been concluded.

The Anhui Securities Regulatory Bureau stated that Yang Aimin's above-mentioned behavior violates Article 40, Paragraph 1 of the Securities Law, which prohibits securities practitioners from directly or under pseudonyms or under the name of others from holding or buying and selling stocks, and constitutes an illegal act as described in Article 187 of the Securities Law.

Based on the facts, nature, circumstances, and degree of social harm of the illegal behavior of the parties involved, the Anhui Securities Regulatory Bureau ultimately imposed a fine of 250000 yuan on Yang Aimin and required him to remit the fine to the China Securities Regulatory Commission within 15 days from the date of receiving this penalty decision.

Same name and surname as the former general manager

It is worth noting that Huaan Securities once had a well-known "Yang Aimin", who was the former general manager who announced his resignation in April 2022. According to data from the China Securities Association, there are currently no other on-the-job securities practitioners named "Yang Aimin" in the securities industry.

According to a Chinese journalist from a securities firm, Yang Aimin, former general manager of Huaan Securities, was born in September 1968. As an elderly person at Huaan Securities, Yang Aimin is familiar with the company's business and has rich management experience. As early as December 2012, Yang Aimin was hired as the Assistant General Manager of Huaan Securities, responsible for fulfilling executive responsibilities and participating in the division of labor and decision-making in business management.

Since February 2013, Yang Aimin has been in charge of the brokerage business of Huaan Securities; In June 2015, he was transferred to be responsible for investment banking business, and both periods of tenure led to a significant increase in revenue for related business lines, laying the foundation for his later appointment as General Manager. In June 2018, Yang Aimin was hired as the General Manager by Huaan Securities and worked in this position for nearly 4 years.

On the evening of April 1, 2022, Huaan Securities announced that General Manager Yang Aimin had resigned due to "personal reasons" and that Chairman Zhang Hongtao would temporarily serve as General Manager for a period not exceeding 6 months. But in reality, Yang Aimin's term had not yet expired at that time.

On April 28, 2019, Huaan Securities announced its agreement to appoint Yang Aimin as the General Manager of the company, with a term starting from the date of approval at this meeting and ending on the expiration of the third term of the Board of Directors, which is April 19, 2022. But when his term was about to expire for less than a month, Yang Aimin hastily resigned from his position as general manager.

After Yang Aimin resigned, Huaan Securities announced on April 11, 2022 that due to the ongoing preparations for the transition, in order to ensure the continuity of the work of the board of directors and supervisory board, the board of directors and supervisory board of Huaan Securities will be postponed, and the terms of office of each special committee and senior management personnel of the board of directors will also be correspondingly extended.

A year has passed now, and Zhao Wanli, the new president of Huaan Securities, was officially appointed on May 4th. The third board of directors of Huaan Securities has not yet completed the transition.

Practitioners frequently face penalties for stock trading

Despite the industry's emphasis on risk control compliance and strict scrutiny of private stock trading by securities practitioners, the temptation of the stock market is clearly enormous. It is not uncommon for securities practitioners to be punished for stock trading incidents.

For example, on December 7th last year, the Hebei Securities Regulatory Bureau announced that some employees of the Lianchi North Street branch of Caida Securities in Baoding had engaged in long-term illegal buying and selling of stocks, and failed to detect and effectively prevent such behavior in a timely manner. The compliance self inspection report was seriously inconsistent with the actual situation, reflecting weak internal management of the branch and a lack of effective monitoring of abnormal stock trading. Therefore, the illegal and irregular behavior of employees was overlooked and out of control, and administrative supervision measures such as issuing warning letters were taken against the above-mentioned branch.

On January 9th of this year, the Beijing Securities Regulatory Bureau also announced that from June 2006 to April 2020, Tian Jianqiao, who had worked in investment banks at three securities firms: China Merchants Securities, Huafu Securities, and China Development Securities, bought and sold stocks by borrowing someone else's securities account. The cumulative transaction amount reached 724 million yuan, resulting in a loss of 1.8274 million yuan and a fine of 250000 yuan.

In fact, although it is very close to the stock market, even some senior executives and investment managers who have been working in securities firms for many years cannot escape the result of private stock trading losses.

In July 2022, the China Securities Regulatory Commission issued an administrative penalty decision, determining that Kong Dianyi controlled the use of his uncle's securities account from April 8, 2019 to March 19, 2020, and from March 30, 2020 to May 20, 2020, trading 133 stocks with a total trading amount of approximately RMB 45.5743 million and a cumulative loss of approximately RMB 13000. Kong Dianyi has served as the Investment Manager of the Securities Investment Department of Minsheng Securities Investment and Trading Business Unit, the Investment Manager of the Securities Investment Department of Fangzheng Securities Asset Management Branch, and the Head of Equity Research.