clsa-nails-coveted-china-brokerage-license

CLSA nails coveted China brokerage license

China Euro Securities Limited is the first Sino-foreign joint venture to win a brokerage license under new regulations.

Dan Slater

June 17, 2008

China Euro Securities Limited CESL, the investment banking joint venture between CLSA and Hunan-based Fortune Securities, was awarded a brokerage license to operate within the Yangtze River Delta area on Monday, according to a press release issued by CLSA. The license was granted under new regulations drafted in December 2007 to accelerate market penetration by Western securities houses.

ItÆs the second time CLSA has trumped its peers, since CESL was also the first joint venture set up in 2003 under regulations that were introduced as a result of China's entry into the World Trade Organisation in 2002. At that time, CESL was granted licenses to underwrite A- and B-share issuance and local bond...

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