The Hunan Securities Regulatory Bureau recently issued Administrative Penalty Decision (2026) No. 12, which opened an investigation into Yang Wenming's act of privately accepting customer commissions to trade securities, and informed the parties concerned of the facts, reasons, and grounds for imposing the administrative penalty and the rights the parties concerned enjoy according to law. The parties did not submit statements or arguments, nor did they request a hearing. The investigation and processing of this case has now been completed. It was discovered that Yang Wenming had the following illegal facts: Yang Wenming was an employee of Zhongtai Securities during the period involved in the case. From October 10, 2017 to November 30, 2017, April 24, 2020 to January 14, 2021, and from November 3 to January 4, 2024, Yang Wenming was commissioned by Tan to operate Zhang's ordinary account by issuing trading instructions. The cumulative transaction amount was 191,297,302.35 yuan, and a book loss of 1,829,166.02 yuan; November 10, 2017 to 2024 On March 6 of this year, Yang Wenming was commissioned by Tan to operate Zhang's credit securities account by issuing trading instructions. He traded a total of 2,338,310,202.05 yuan, with an actual loss of 90,233,071.69 yuan. The above two accounts accumulated transactions of RMB 2,529,607,504.40, with a total book loss of RMB 92,062,237.71. Yang Wenming did not generate illegal income during his acceptance of the commission. Yang Wenming's above act violates the provisions of section 136 (2) of the Securities Law and constitutes an act of securities company employees privately accepting orders from customers to trade securities as described in section 210 of the Securities Law. The Hunan Securities Regulatory Bureau decided to give Yang Wenming a warning and fine of 500,000 yuan.

The Hunan Securities Regulatory Bureau recently issued Administrative Penalty Decision (2026) No. 12, which opened an investigation into Yang Wenming's act of privately accepting customer commissions to trade securities, and informed the parties concerned of the facts, reasons, and grounds for imposing the administrative penalty and the rights the parties concerned enjoy according to law. The parties did not submit statements or arguments, nor did they request a hearing. The investigation and processing of this case has now been completed. It was discovered that Yang Wenming had the following illegal facts: Yang Wenming was an employee of Zhongtai Securities during the period involved in the case. From October 10, 2017 to November 30, 2017, April 24, 2020 to January 14, 2021, and from November 3 to January 4, 2024, Yang Wenming was commissioned by Tan to operate Zhang's ordinary account by issuing trading instructions. The cumulative transaction amount was 191,297,302.35 yuan, and a book loss of 1,829,166.02 yuan; November 10, 2017 to 2024 On March 6 of this year, Yang Wenming was commissioned by Tan to operate Zhang's credit securities account by issuing trading instructions. He traded a total of 2,338,310,202.05 yuan, with an actual loss of 90,233,071.69 yuan. The above two accounts accumulated transactions of RMB 2,529,607,504.40, with a total book loss of RMB 92,062,237.71. Yang Wenming did not generate illegal income during his acceptance of the commission. Yang Wenming's above act violates the provisions of section 136 (2) of the Securities Law and constitutes an act of securities company employees privately accepting orders from customers to trade securities as described in section 210 of the Securities Law. The Hunan Securities Regulatory Bureau decided to give Yang Wenming a warning and fine of 500,000 yuan.