SEC v. Sheng Fu and Ming Xu (insider trading, 2022)

Settled

✓ Checked against the primary document on October 3, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In September 2022 the SEC settled administrative proceedings with Sheng Fu and Ming Xu over insider trading. Fu agreed to a $556,580 civil penalty and Xu to $200,254.

The record

What was ordered

Civil penalty

$757k

Disgorgement

—

Prejudgment interest

—

Total relief

$757k

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission instituted and settled the proceedings on September 21, 2022 under Section 8A of the Securities Act (Fu) and Section 21C of the Exchange Act (both).

The order finds insider trading by both respondents and imposes cease-and-desist orders; neither admitted nor denied the findings.

The stored penalty is the sum of both respondents' amounts. The earlier record held the two names as one.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2022-09-21 Administrative proceeding instituted (cease-and-desist)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC order

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.