CSRC hits GF Securities with sponsorship, bond ban

By Addison Gong
13 Jul 2020

China’s securities regulator has banned GF Securities from sponsoring IPOs for six months and underwriting bonds for a year, punishing the firm for its role on a series of fundraisings for Kangmei Pharmaceutical Co.

The China Securities Regulatory Commission (CSRC) said on July 10 that the firm had failed to perform proper due diligence on Kangmei, which has admitted to falsifying its accounts. GF Securities was given five business days to make its case before a final decision is made.

In April ...

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