Citic Securities president hit by probe

Cheng Boming is being questioned by police for alleged insider trading and leaking inside information, the highest-ranking Chinese brokerage official investigated so far.

Citic Securities president Cheng Boming is being questioned by police for alleged insider trading and leaking inside information, the company said on Tuesday evening, making him the the highest-ranking Chinese brokerage official to be investigated since Beijing intensified a clampdown on market malpractice.

In a filing with the Shanghai Stock Exchange, Citic said three executives are under investigation for the same alleged offences including Yu Xinli, in charge of operations, and Wang Jinling, vice manager of the information technology centre.

Citic and the Ministry of Public Security could not immediately be reached for comment.

The latest investigation comes after state media reported late...

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