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 readers like you. 

What you'll get:

  • High-quality & in-depth reporting on the most important topics about China's economy and financial markets
  • Daily Brief newsletter to give you a full picture of what's happening in China every weekday
  • Exclusive interviews with China experts
  • Conference calls and events 

We are not content with general information that you can get everywhere. We go deeper to get details, data and perspectives you won't read elsewhere! 

 

JOIN FOR FULL ACCESS

Already have an account? Sign In

Top