Citic Securities, Haitong Probed for Alleged Share Transfer Violations

What’s new: China’s top securities watchdog has placed two brokerage giants under investigation for alleged share transfer violations, according to the companies’ fillings.

Citic Securities Co. Ltd. (600030.SH) and its wholly-owned subsidiary, Citic Securities Capital, are suspected of breaching “the relevant laws and regulations in the transaction of transfer of the 2023 non-public issuance of shares” of titanium dioxide manufacturer CNNC Hua Yuan Titanium Dioxide Co. Ltd. (002145.SZ), the parent company said in a stock exchange filing Friday.