China watchdog raps ICBC after brokerage accounts glitch

April 1, 2015 4:01 AM

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SHANGHAI Apr 1 (Reuters) - China's securities regulator has ordered the country's largest listed bank, Industrial and Commercial Bank of China Ltd (ICBC) , to improve operations after a glitch earlier this year left investors unable to complete around 5 billion yuan ($807 million) of transactions.

The China Securities Regulatory Commission (CSRC) said late on Monday that the bank must fix its systems after they failed to register some transfers of funds from brokerage accounts to investors' bank accounts in January. That contravened rules, the commission said, in a statement posted on its off...

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