Press "Enter" to skip to content

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

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.

To continue reading, please subscribe.


We highly value independence. Yuan Talks is solely funded by subscriptions from thousands of intelligent readers like you. Don't miss out! 

What you'll get:

  • Original and in-depth reporting on China's economy and financial markets with details, data and perspectives you don't read elsewhere!
  • Daily Brief newsletter delivered before market open every weekday wrapping up the most important China-related information.
  • Weekly Market Wrap-up on Chinese equities, bonds, the yuan and commodities!
  • Interviews with China experts. We find you insights you should never miss!


Not ready for the full service? Subscribe to our Free Weekly Newsletter first.

Already have an account? Sign In