China’s securities regulator plans to triple cash rewards for whistleblowers, offering payouts of up to 1 million yuan ($140,470) for tips on serious market misconduct as Beijing steps up efforts to strengthen oversight and bolster investor confidence.
Under the proposal, the China Securities Regulatory Commission plans to lift the reward payouts to 3%, from 1%, of the value of fines and confiscations from each case. The maximum reward for providing leads on major violations will increase to 500,000 yuan from 100,000 yuan. The top payout for cases with “nationwide impact, exceptionally large sums, or insider reporting” will be unified at 1 million yuan, up from the previous caps of 300,000 yuan and 600,000 yuan, according to a statement Tuesday.
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