HSBC’s China fund management venture has been punished for misconduct related to IPO subscriptions, as regulators proceed with a broad campaign against financial corruption.
China’s securities regulator is cracking down on bad behaviour in a mainland share market that is expected to attract up to $500bn in foreign money over the next decade following the inclusion of so-called A shares into MSCI’s emerging markets index.
The China Securities Regulatory Commission has already set a record for market-manipulation fines for a third straight year. This week a CSRC-controlled industry association
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