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China watchdog starts probe into mutual funds - media
November 16, 2015 / 2:50 AM / 2 years ago

China watchdog starts probe into mutual funds - media

Investors chat in front of an electronic board showing stock information at a brokerage house in Beijing, China, October 30, 2015. REUTERS/Li Sanxian/Files

SHANGHAI (Reuters) - China’s markets regulator has started probing mutual funds for illegal activity, an unnamed source told the respected China Business News on Monday.

The country’s regulators have been cracking down on illegal stock trading, “malicious” short-selling and insider dealing since bourses fell sharply in mid-June.

The investigation by the China Securities Regulatory Commission (CSRC) may include some brokerages and will involve a wide ranging audit which is expected to conclude before the end of this year, the source told China Business News.

The investigation is in its early stages, but the CSRC plans to announce details this month, the source said.

The CSRC was not immediately available for comment.

Reporting by Engen Tham; Editing by Richard Pullin

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