China’s securities watchdog has punished two brokerages for violating rules in helping fraudulent firms to list shares, underlining Beijing’s determination to bring credibility to a stock market some have likened to a casino.
The China Securities Regulatory Commission will fine Minsheng Securities 2 million yuan (HK$2.5 million) for failed due diligence in Shanxi Tianneng Technology’s attempt to launch an initial public offering in 2011, the regulator said in a statement on its website.
via Business feed http://www.scmp.com/business/banking-finance/article/1251319/china-punishes-two-brokerages-ipo-fraud-crackdown
No comments:
Post a Comment