Article 179 if anyone establishes a securities firm and operates securities business without approval and a business permit , the securities regulatory authority shall have it closed down , confiscate any illegal gains and impose a fine of not less than the amount of but not more than five times the illegal gains 第一百七十九条未经批准并领取业务许可证,擅自设立证券公司经营证券业务的,由证券监督管理机构予以取缔,没收违法所得,并处以违法所得一倍以上五倍以下的罚款。