Hey Monkeys, Watch This Chicken: CITIC Securities Subsidiary's License Revoked

AA Stocks: Securities Biz License of CITIC SEC (06030.HK) Wholly-Owned Subsidiary Revoked

iFeng: 中信证券全资子公司被证监会撤销证券业务许可证

The iFeng story points to the failed bid for Russell and ongoing investigations.

Bloomberg: LSE's Sale of Russell Investments to Citic May Collapse
Citic Securities has become a focal point of a campaign by the Chinese authorities to root out financial wrongdoing and assign blame for the nation’s $5 trillion stock rout. President Cheng Boming is being investigated by the police, with the state-run Xinhua News Agency reporting that he’s one of seven Citic Securities executives facing probes for offenses including alleged insider trading.

FierceFinanceIT: London Stock Exchange to sell Russell Investments to TA Associates for $1.15B
As recently as last month, Bloomberg reported that LSEG had been in advanced talks to sell Russell Investments to Citic Securities, China's largest listed broker, for $1.8 billion, but that deal began to derail due to the turbulence in the Chinese markets and reports that some Citic executives may have been under investigation for insider trading.

No comments:

Post a Comment