On Sept. 11 the Beijing Stock Exchange said it has restricted trading in three investors' securities accounts for three months after finding they privately acquired shares during new-issue subscriptions and used fixed fees or profit-sharing arrangements to lock in returns and transfer risk. The exchange said the deals bypassed authorized trading venues, disrupted new-issue allocation order and violated rules requiring publicly issued securities to trade on established exchanges. The self-regulat

On Sept. 11 the Beijing Stock Exchange said it has restricted trading in three investors' securities accounts for three months after finding they privately acquired shares during new-issue subscriptions and used fixed fees or profit-sharing arrangements to lock in returns and transfer risk. The exchange said the deals bypassed authorized trading venues, disrupted new-issue allocation order and violated rules requiring publicly issued securities to trade on established exchanges. The self-regulatory sanctions are presented as a signal of tougher enforcement to protect market fairness and investor rights.