Laws and Justice

Beijing Police Crack Down on Illegal Securities Consulting Groups

Main image to the post Beijing Police Crack Down on Illegal Securities Consulting Groups

Beijing police have apprehended 294 individuals from 15 groups suspected of illegally profiting from providing securities-related information to investors. These suspects lacked business licenses and exploited investors' lack of expertise and desire for quick wealth. They disseminated stock investment advice via text messages and telemarketing, then charged for software and membership services.

The investigation commenced last year following investor complaints. The Beijing Public Security Bureau, in collaboration with financial authorities, launched a campaign against illegal securities consulting operations.

The police urge residents to exercise caution when encountering investment claims of "inside information," "high returns," or "guaranteed profits." They emphasize the importance of verifying the business license of information providers before making investment decisions.

Unlicensed companies engaging in securities investment consulting not only violate investors' rights but also disrupt the market's stability. Investors are advised to enhance their legal awareness and report any suspected violations or crimes to the authorities.

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May 21, 2023 | 05:09