Securities Brokerages Not Allowed to Engage in Venture InvestmentTo promote the standardized operation of securities firms and avoid risks arising from blindly engaging in venture investment, China Securities Regulatory Commission (CSRC) recently issued a notice to ban securities firms from making direct or indirect venture investment.The notice said it is not in line with the existing laws and regulations for securities firms to make direct investment in venture investment. Securities firms that are engaging in venture investment are required to finish the clearance and rectification work within 6 months. CSRC will make punishment on the securities firms which continue to engage in venture investment after the issuance of the notice. Source: Panorama |
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