Se­cu­ri­ties Reg­u­la­tor to root out illegal stock ac­counts

China Daily (Canada) - - NEWS CAPSULE -

China’s se­cu­ri­ties reg­u­la­tor said that it will root out the re­main­ing illegal stock trad­ing ac­counts that were partly re­spon­si­ble for the re­cent tur­bu­lence, even as the cap­i­tal mar­ket is still strug­gling to re­gain its foot­ing.

The China Se­cu­ri­ties Reg­u­la­tory Com­mis­sion said it has cleaned up 69 per­cent of the trad­ing ac­counts which were in­volved in illegal mar­gin fi­nanc­ing through the so­called fund-match­ing com­pa­nies that ex­tend gray-mar­ket mar­gin loans to in­vestors.

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