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China: Small brokerages to come under review

By  |  April 5, 2015

Small fast ast-growing firms like Southwest Securities may soon find themselves under a financial probe in Beijing’s drive to modernise the country’s financial industry.

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    Nearly doubling profits last year on a stock market boom, Southwest is one of the more than 120 brokerages in China that will have to live with government plans to allow commercial banks and other finance firms to own a brokerage licence. The new rules are expected later in 2015, part of moves to open up capital markets and bolster China’s sagging economic growth.

    China’s securities regulator has given no timetable for when new licences would be issued. Financial Markets experts expect the change could be as soon as the third quarter of 2015.

     

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