A former senior executive of Everbright Securities Co. Ltd. (601788.CN) said he should not be held liable for a computer malfunction that triggered abnormal trades in August last year, China Securities Journal reported Friday. Yang Jianbo, former head of Everbright’s strategic investment department, appeared in Beijing First Intermediate People’s Court which is hearing a case he brought against the China Securities Regulatory Commission (CSRC). Yang wants the court to throw out a lifetime ban and unspecified penalties imposed by the CSRC for insider trading. His lawyer argued that the abnormal trade information did not constitute insider trading and the company did not take advantage of that information, the report said.
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