Credit Suisse joint venture gets brokerage services approval

Credit Suisse’s China joint venture with Founder Securities has been granted approval to offer brokerage services in Shenzhen’s Qianhai economic zone, Bloomberg reported, citing a statement from the former. The boost to Credit Suisse Founder Securities comes after an earlier setback in which the venture’s former Chairman Lei Jie – also the former chairman of Founder Securities – went missing in January, later turning up after being released from police custody, according to a person familiar with the situation. Lei said on Tuesday that he was no longer involved with the joint venture and declined to comment further.