China slaps record â¹5,650 crore fine for stock manipulation
China's securities regulator on Wednesday said it fined Xiamen Beibadao Group record 5.5 billion yuan (about â¹5,650 crore) for manipulating share prices. The company allegedly used 300 trading accounts to manipulate share prices of two banks and an aluminium maker. The penalty is almost six times what Xiamen Beibadao earned by manipulating the shares in two months, the regulator said.