Chinese regulators slap US$7.8m penalty on Guotai Haitong arm amid capital flow crackdown
Culture Index
Score Breakdown
Relevance
3/25
Freshness
25/25
Authority
18/20
Brand Signal
11/15
Depth
4/15
5-Axis Cultural Radar
An asset-management arm of Guotai Haitong Securities, a leading Chinese brokerage, was ordered to pay 52.5 million yuan (US$7.8 million) in fines and penalties for activities undertaken by its offshore investment business as Beijing tightens its scrutiny of capital flows. Guotai Haitong Securities Asset Management was fined 25.9 million yuan and ordered to forfeit 26.7 million yuan in illegal gain