Citic Securities Cited as Over-Reporting Equity-Swap Numbers

Citic Securities Co., China’s biggest brokerage, over-reported equity-swap data by 1 trillion yuan ($157 billion) between April and September, the Securities Association of China said.

The association is investigating and will take measures if it discovers any non-compliant situation, it said in a statement on its website.

Citic Securities shares fell 0.8 percent in Hong Kong as of 9:49 a.m. local time, compared with a 0.6 percent drop in the benchmark Hang Seng Index.

— With assistance by Zhe Huang

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