Fund managers warned off two brokers
28 January 2005
Suspecting irregularities, the China Securities Regulatory Commission ordered fund companies to stop using Minfa Securities and Hantang Securities as distributors. Both were both taken over by the government last year, among eight brokers either taken over or shut down by the CSRC. Fund managers told Minfa and Hautang clients they could either redeem their investments or transfer their accounts to other brokers.