Search

Regulator Takes Over Brokerage Unit of CEFC China

Updated: Mar 23


Photo by FT


China securities regulator said on Friday that CEFC Shanghai Securities Co, part of conglomerate CEFC China Energy Co Ltd, has been taken over by state-owned Guotai Junan Securities Co due to irregularities.


Guotai Junan will administer the business of CEFC Shanghai Securities for no longer than 12 months, the China Securities Regulatory Commission (CSRC) said.

The action will not affect other securities companies, the CSRC said in a separate statement.


“The brokerage arm has offered illegal loans for its parent CEFC Shanghai International Group and relevant parties, (and) carried out illegal asset management business,” the CSRC said. “Indicators on its risk control showed that the firm is no longer capable of running a securities business.”


CEFC Shanghai Securities is banned from business operations starting Nov.15, the CSRC said, while the assets of its clients remain safe.


Once fast-growing, CEFC defaulted on bonds last year and its former chairman Ye Jianming was put under investigation by authorities. It has conducted several sales of overseas assets that it had bought in recent years. Reuters



World Forex Award

Mominate fo 2019: http://bit.ly/WFA2019nom

FAQ: https://www.worldforexaward.com/

About WFA: https://www.worldforexaward.com/

0 views
Forex Award | World Forex Award |  The Best Forex Broker
  • Forex Award | World Forex Award | Best Forex Broker
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
  • Forex Award | Forex Brokers Award
Our Address:

World Forex Award NPO

Greater London,

207 Regent Street

Company Number 12065454

Phone:

+448000418941

Contact Us

Cookies 

Cookies are small text files that a web site transfers to a site visitor’s hard disk or browser for added functionality, or for tracking web site usage. We do not use cookies to gather personal information such as a person’s name or e-mail address. In order to measure the effectiveness of our on-line presence, The European Business Award website may use cookies to identify repeat visitors to our site and to determine the path visitors take on our site. Any information gathered by the use of cookies is compiled on an aggregate, anonymous basis.

Use of cookies is an industry standard and many web sites use them. If you do not wish to receive cookies, or want to be notified of when they are placed, you can set your web browser to do so, if your browser so permits.

* Partner companies are those Sponsors and organisations who support the World Forex Award  and also follow in the aims and principles of the Awards - towards creating a more successful European economy.

© 2015-2020 World Forex Award NPO