CSRC Administrative Penalty Decision [2026]37 found that securities practitioner Zong Jianshu fabricated and circulated false information on Dec. 16, 2025, posting a bogus tax-rate adjustment claim in a WeChat group. CSRC said the false information disrupted the securities market and that Zong, as a securities professional, failed to exercise necessary due diligence by not verifying the claim; the regulator noted there were no illegal gains. CSRC imposed a five-year market ban effective from the

CSRC Administrative Penalty Decision [2026]37 found that securities practitioner Zong Jianshu fabricated and circulated false information on Dec. 16, 2025, posting a bogus tax-rate adjustment claim in a WeChat group. CSRC said the false information disrupted the securities market and that Zong, as a securities professional, failed to exercise necessary due diligence by not verifying the claim; the regulator noted there were no illegal gains. CSRC imposed a five-year market ban effective from the date of the announcement. During the ban Zong is prohibited from conducting securities business or securities services at his former firm, from serving as a director, supervisor or senior manager of the former issuer, and from holding equivalent roles or conducting securities business or services at any other institution.