Brokerages fined for roles in 2015 market crash were innocent: securities regulator

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Three leading Chinese securities brokerages said on Monday they had been told by the China Securities Regulatory Commission (CSRC) that the claim which got them under an investigation and fined for their roles in China's unprecedented stock market crash in 2015 were not true.

CITIC Securities, Haitong Securities and Guosen Securities said in the statements that they had received a notice from the CSRC that the claim that they illegally provided margin financing and securities lending services to foreign investors to short A shares during the market crash three years ago is not established and the probe has been brought to an end.

No further details about the case were released by the regulator so far.

In May 2017, the three companies were fined 308 million yuan, 2.55 million yuan and 104 million yuan respectively after a two-year investigation for the above claim.

 

 

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