BEIJING: Shanghai Minghong Investment Management Co, one of China’s largest quantitative hedge funds, has been banned from registering new products for three months due to “inappropriate” staff behaviour, the Asset Management Association of China said.
Shanghai Minghong failed to conduct effective internal control over issues such as employees’ “inappropriate comments” about the company’s peers on social media and failed to promptly urge them to make rectifications, the association said in a statement.
Published in Dawn, October 1st, 2023
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