From the Financial Times: “China flag and money imageChina’s securities market regulator on Friday ordered an audit of all the country’s 130-odd brokerages, the latest step in its efforts to clean up the heavily loss-making and scandal-prone sector.
The China Securities Regulatory Commission instructed brokerages in an e-mail to submit a report on their financial situation by the end of April, in an effort to discover the true extent of the industry’s problems.”
