Top 2 Xu Haoming
China Everbright Securities Co, the country's fifth-largest brokerage by market value, said a "system error" occurred on Aug 16 morning at a time China's benchmark Shanghai Composite Index experienced an abnormal surge. The benchmark SCI gained by 5.6 percent in two minutes and trade volume also grew 80 percent more than the 30-day average.
This event shocked the stock market and Everbright Securities was later fined 520 million yuan on August 30, 2013.
Xu Haoming, president of Everbright Securities and three other persons in charge were then banned from the securities industry for life.
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Xu Haoming, president of China Everbright Securities Co, in Shanghai, August 18, 2009. [Photo/IC] |
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