6 brokers penalized for breach
Print Edition
SIX brokerages have been punished for violating margin trading rules, the China Securities Regulatory Commission said yesterday.
An on-site inspection of 46 securities firms between February 2 and 15 found irregularities in margin trading committed by some of them, Deng Ge, a CSRC spokesman, said yesterday.
Great Wall Securities was suspended from opening new margin trading accounts for customers for three months.
Huatai Securities, Guosen Securities, Minmetals Securities, Huaxi Securities and China International Capital Corporation Ltd were ordered to rectify and enhance inspection after they were found to have lent money to ineligible investors or issued expired margin trading contracts to customers, the CSRC said.
Margin trading, which allows investors to borrow cash from brokerages to buy shares, has been the main driver of the latest rally in China’s stock market that propelled the Shanghai Composite Index by nearly 60 percent since November.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
