China’s securities regulator has opened a probe into Hundsun Technologies, a Chinese financial-services software provider controlled by Alibaba founder Jack Ma, as Beijing cracks down on the previously unregulated grey market in margin finance.
Deng Ge, a spokesman for the China Securities Regulatory Commission, said late Monday that officials from the regulator went to Hundsun’s offices to “check the relevant evidence and supervise the company to strictly abide by the CSRC regulations.”
Earlier in the day, Hangzhou-based Hundsun rejected claims that its popular Homs trading platform helped to amplify China's recent stock market slump. In a Shanghai...
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