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Analysts Suspended After Racy Client Party Video Goes Viral

  • China’s Founder Securities suspended analysts on Tuesday
  • Episode higlights intense competition for New Fortune rankings
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Two analysts at a major Chinese brokerage were suspended on Tuesday after a racy video of them partying with clients went viral, underscoring concern that some sell-side researchers are going too far to win votes for the country’s most important analyst ranking.

Founder Securities Co., a Chinese partner of Credit Suisse Group AG, suspended the analysts after a preliminary investigation, citing video and photos that brought “severe damage” to the firm’s reputation. The analysts were also barred from this year’s New Fortune research contest, a hyper-competitive Chinese version of the Institutional Investor research poll. Voting for this year’s rankings started on Tuesday and runs through Sept. 27.