Haitong Securities' Chairman, Wang Kaiguo, has revealed in a press conference that the company is undertaking reforms and will tighten controls over risks. The firm said it would introduce new measures to prevent fraud and improve its internal control systems.
Haitong Securities' Chairman, Wang Kaiguo, has revealed in a press conference that the company is undertaking reforms and will tighten controls over risks. As we noted last week, Haitong is currently being investigated by the China Securities Regulatory Commission (CSRC) over allegations of violations of securities regulations; CITIC Securities and Guosen Securities, Haitong's biggest rivals, are also under investigation.