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China securities regulator asks four brokerages to correct behaviours

reuters.com · 06/10/2022 08:03
China securities regulator asks four brokerages to correct behaviours

- China's securities regulator on Friday ordered four Chinese brokerages and financial institutions to rectify issues including multi-layered equity structures of their overseas subsidiaries and special purpose vehicles (SPVs), it said in statements posted on its website.

Everbright Securities Co Ltd 601788.SS, CITIC Securities Co Ltd CIIHF, Haitong Securities Co Ltd HAITY and China International Capital Corp Ltd CNICF were blamed for reasons such as not completing the adjustments of equity structures of overseas subsidiaries on time, the China Securities Regulatory Commission (CSRC) said in separate statements.

They have up to three months to submit the improvement reports to CSRC, the statement added.


(Reporting by Meg Shen)

((meg.shen@thomsonreuters.com; 852-39525805;))