March 30, 2018 / 9:01 AM / 9 months ago

China securities regulator to tighten ownership rules on brokerages

BEIJING/SHANGHAI, March 30 (Reuters) - China’s securities regulator said on Friday it would issue draft guidelines on the ownership structure of securities firms.

The China Securities Regulatory Commision (CSRC) told a news conference that major and controlling shareholders of a securities firm must be “industry leaders”.

The regulator also said it would set new rules on what entities could own stakes in securities companies.

CSRC added it would seek to revise rules on initial public offerings by the end of this year.

Reporting by Beijing and Shanghai Newsroom Editing by Jacqueline Wong

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