Punchy CSRC sets sights on IPO sponsors

Chinese regulator gets aggressive under new boss.

China’s securities regulator, emboldened under its tough new leader, is clamping down on IPO sponsors in the country. That might ruffle a few feathers but local market participants think it is necessary.

Investors have 21 less IPOs to expect in China’s A-share market. That was the number of deals put on hold by the China Securities Regulatory Commission CSRC, after it launched a probe into a securities house that had sponsored the mooted listings.

Zhongtai Securities, a Shandong-based securities firm in China, disclosed on September 2 that the CSRC had built a formal case against the company for allegedly breaking “relevant securities and futures regulations”....

¬ Haymarket Media Limited. All rights reserved.

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