CSRC Suspends Huajin Securities’ Bond Underwriting for Three Months

What’s new: China’s stock regulator found flaws in internal controls and security mechanisms at some brokerages in a special inspection this year of eight large securities firms’ investment banking businesses.

Shanghai-based Huajin Securities Co. Ltd and Gansu-based state-owned China Dragon Securities Co. Ltd. were found with numerous serious violations, the China Securities Regulatory Commission (CSRC) said Friday in a statement. The regulator suspended Huajin Securities’ sponsorship and corporate bond underwriting businesses for three months.