Financial information and software firm Hundsun Technologies (600570.SHA) has announced it will not allow users to create new accounts and will halt the addition of any funds to existing accounts on the company’s cloud-based HOMS platform, which links small institutions like hedge funds and online peer-to-peer lending operators with brokerages, The Wall Street Journal reported, citing a filing to the Shanghai Stock Exchange. The freeze follows word that the firm, which is controlled by Alibaba (BABA.NYSE) founder Jack Ma, is under investigation by the China Securities Regulatory Commission, which visited the Hangzhou-based company on Monday.
Categories