CSRC: Hu Bo controls the use of a Sina Weibo account to fabricate and spread false or misleading information, fined 800,000 yuan and implemented a 3-year ban on entering the securities market.

On April 17th, the China Securities Regulatory Commission announced an administrative penalty decision. It was found that Hu Bo was involved in the following illegal activities: since August 2023, Hu Bo has controlled and used accounts such as "Captain Jack Macro Strategy" and "Captain Jack Macro Strategy Gossip" on Sina Weibo to fabricate and disseminate false or misleading information related to capital market regulatory dynamics and policies, disrupting the securities market. The CSRC decided to impose a fine of 800,000 yuan on Hu Bo and implement a 3-year ban from the securities market. The original text is as follows: China Securities Regulatory Commission Administrative Penalty Decision No. 7 of 2026 Party: Hu Bo, male. In accordance with the relevant provisions of the Securities Law of the People's Republic of China (hereinafter referred to as the "Securities Law"), I have conducted an investigation into the alleged fabrication and dissemination of false information by Hu Bo, informed the party of the facts, reasons, basis for the administrative penalty, and the rights enjoyed by the party in accordance with the law. The party did not provide any statements or defense opinions, nor did it request a hearing. This case has now been investigated and concluded. It was found that Hu Bo was involved in the following illegal activities: Since August 2023, Hu Bo has controlled and used accounts such as "Captain Jack Macro Strategy" and "Captain Jack Macro Strategy Gossip" on Sina Weibo to fabricate and disseminate false or misleading information related to capital market regulatory dynamics and policies, disrupting the securities market. The above illegal facts have been proven by evidence such as inquiry transcripts of Hu Bo and related personnel, data from media platforms, information on publishing equipment, and screenshots of WeChat group messages, sufficient to establish. Hu Bo's above-mentioned actions violated Article 56(1) of the Securities Law and constituted the fabrication and dissemination of false information as described in Article 193(1) of the Securities Law. Based on the facts, nature, circumstances, and social harm of the party's illegal acts, and pursuant to Article 193(1) of the Securities Law, I have decided to impose a fine of 800,000 yuan on Hu Bo. Considering the serious nature of Hu Bo's illegal behavior, in accordance with Article 221 of the Securities Law and Article 7 of the Provisions on Securities Market Entry Ban (CSRC Order No. 185), I have decided to impose a 3-year ban on Hu Bo from the securities market. From the date of the announcement of this decision, during the ban period, Hu Bo shall not engage in securities business or services in the original institution or hold positions as directors, supervisors, or senior managers of the original securities issuer, nor engage in securities business or services in any other institution or hold positions as directors, supervisors, or senior managers of other securities issuers. The party must pay the fine directly to the national treasury within 15 days of receiving this penalty decision. The specific payment methods are detailed in the attached instructions to this penalty decision. Additionally, a copy of the payment voucher with the party's name must be submitted to the office of the Administrative Penalty Committee of the China Securities Regulatory Commission. If the party is dissatisfied with this penalty decision, they may apply for administrative reconsideration to the China Securities Regulatory Commission within 60 days of receiving this penalty decision (the application for administrative reconsideration can be sent by postal express to the Legal Affairs Department of the China Securities Regulatory Commission) or file an administrative lawsuit directly with the competent People's Court within 6 months of receiving this penalty decision. During the reconsideration and litigation period, the above decision shall not be suspended. This article is excerpted from the official website of the CSRC. Editor: Feng Qiuyi.