The evening of November 26 after investigation by SFC bulletin, November 29 Bulletin explains that CITIC Securities and haitong securities, was found “is not in accordance with the provisions of business contracts with the customers.”
On November 26, CITIC Securities and haitong securities, guosen securities three brokerages bulletin, on suspicion of violation of the relevant provisions of the regulations on supervision and management of securities companies, the China Securities Regulatory Commission decides to initiate an investigation of the company. Three brokerages to outline the investigation issued by the inspection team.
Announcements only illustrate three brokerages were found that night, was not further indication check the cause, such as CITIC Securities had been involved in the storm was found, which caused considerable unease in the markets. On November 27, the brokerage almost all fell, dragging down Shanghai index tumbled 199 points.
While exposure of these securities on November 29, the latest announcement, the SFC’s investigation is a securities company in financing business development process, a violation of the regulations on supervision and management of securities companies 84th “failing business contracts with the customer” appeared. Week surge in a way 61 the top of the cattle unit
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