BEIJING, Nov 15 (Reuters) - China securities regulator mentioned on Friday that CEFC Shanghai Secur
BEIJING, Nov 15 (Reuters) – China securities regulator mentioned on Friday that CEFC Shanghai Securities Co, a part of conglomerate CEFC China Power Co Ltd, has been taken over by state-owned Guotai Junan Securities Co as a result of irregularities.
Guotai Junan will administer the enterprise of CEFC Shanghai Securities for not than 12 months, the China Securities Regulatory Fee (CSRC) mentioned.
The motion won’t have an effect on different securities firms, the CSRC mentioned in a separate assertion.
(Reporting by Cheng Leng, Ryan Woo and Beijing Monitoring Desk; enhancing by Jason Neely)
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