CHINA'S largest insider trading case drew to a close yesterday with the Shanghai No.1 Intermediate People's Court due to give its verdict at a later date.
Li Xuli, 39, former investment director of Shanghai-based Bank of Communications Schroders Fund Management Co, was detained last August on suspicion of exploiting private information in two stocks in the fund that he managed to trade in shares and make over 10 million yuan (US$1.6 million) profit.
He is alleged to have placed orders for his personal accounts when trading the two stocks between February 28 and May 5 in 2009, according to an investigation by the China Securities Regulatory Commission.
The case highlighted the regulatory body's increasing efforts to crack down on illegal stock trading, but at the same time pointed out some shortcomings in the current system, experts said.
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