SHANGHAI : China's securities regulator has strengthened scrutiny of brokerages' margin lending and securities borrowing businesses, after detecting misbehaviour recently, the official China Securities Journal reported on Tuesday.
The China Securities Regulatory Commission has urged brokerages to step up monitoring of trading activity in investors' credit accounts to prevent the misuse of margin loans, the newspaper said, citing a CSRC notice. Some investors have recently circumvented rules, using margin loans to buy ineligible assets, converting them into cash, or using them for other illegitimate financing, the newspaper said.
Such activities flout regulations, disrupt trading mechanisms, increase the chance of risk contagion, and make it harder for brokerages and regulators to identify risks, the article said. CSRC warned against turning margin lending into a loan business with no usage restrictions, the newspaper said.On Monday, CSRC pledged to crack down on mismanaged private funds and weed out fake ones, as regulators tighten the screws on the capital market.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Slumping Asian currencies face more risk from slowdown in ChinaThere has been no shortage of bad news for Asian currencies and an upcoming report on China’s manufacturing sector may add to the pressure. YahooFinance
Source: YahooSG - 🏆 3. / 71 Read more »
China Baosteel sees easing raw material prices due to steel output controlsBEIJING : China's biggest listed steel producer Baoshan Iron & Steel Co Ltd (Baosteel) on Monday said it expects cost pressure to ease with the implementation of government-mandated steel production cuts.'The company has always stuck to a low-inventory strategy. As the country is carrying out policies to
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China August factory activity seen growing at slightly slower pace - Reuters pollBEIJING : Growth in China's factory activity likely cooled further in August, a Reuters poll showed on Monday, as COVID-related restrictions and high raw material prices continued to pressure manufacturers and the economy lost momentum.The official manufacturing Purchasing Manager's Index (PMI)is expected
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China bans exams for six-year-olds as Beijing retools education systemBEIJING: Beijing on Monday (Aug 30) banned written exams for six- and seven-year-olds, as part of sweeping education reforms aimed at relieving pressure on pupils and parents in China\u0027s hyper-competitive school system. China\u0027s exam-oriented system previously required students to take exams from f
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China bans exams for six-year-olds as Beijing retools education systemBeijing on Monday banned written exams for six- and seven-year-olds, as part of sweeping education reforms aimed at relieving pressure on pupils and parents in China's hyper-competitive school system.
Source: YahooSG - 🏆 3. / 71 Read more »
China Evergrande says it will not hold news briefing after H1 earningsHONG KONG : China Evergrande Group, the country's debt-laden No. 2 property developer, said on Monday it will not hold a news conference after it reports its first-half earnings on Tuesday. The company did not provide a reason for the rare move.Evergrande said last week it expected its six-month ne
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »