According to Administrative Penalty Decision (2026) No. 38 issued by the Securities Regulatory Commission, the CSRC opened an investigation into the fabrication and dissemination of false information by the person concerned Ma Xingrui. It was discovered that the person concerned had the following illegal facts: 1. Ma Xingrui spread false information. On December 16, 2025, Ma Xingrui viewed relevant information involving tax rate adjustments in the WeChat group and forwarded the original text to other WeChat groups on the same day. After investigation, the above information was false. 2. False information disrupts the securities market. As a securities practitioner, Ma Xingrui failed to fulfill the necessary duty of care and spread false information without considering and verifying the authenticity of the relevant information, causing false information to spread widely on Internet platforms and disrupting the securities market. Ma Xingrui had no illegal proceeds from the above acts. The Securities Regulatory Commission decided to fine Ma Xingrui 300,000 yuan.

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