A securities professional used other people's accounts to trade stocks, and instead of making a profit, lost 4.76 million yuan over 19 years.

CoinFeed reported on May 24 that, according to Cailian Press, the Tianjin Securities Regulatory Bureau disclosed an administrative penalty decision. Securities practitioner Chi Wei was fined 250,000 yuan for using other people's securities accounts to trade stocks for 19 years, resulting in accumulated losses of 4.7621 million yuan. The regulatory authorities determined that his actions violated the Securities Law's provision that securities practitioners may not directly or indirectly hold or trade stocks under pseudonyms or in the name of others, constituting an illegal act. Based on the facts, nature, circumstances, and degree of social harm of the party's illegal act, the Tianjin Securities Regulatory Bureau ultimately decided to impose a fine of 250,000 yuan on Chi Wei.