South China Morning Post - Money & Wealth

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 y...