The China Securities Regulatory Commission (CSRC), the country’s securities regulator, ordered Legend Holdings, a Chinese investment holding company, to fix information disclosure issues on Thursday, reports Reuters. The CSRC said in a statement that a regular on-site inspection found that the company released its 2020 annual report in Hong Kong earlier than it did in mainland China.
Legend’s disclosure via the Shanghai Stock Exchange of its acquisition of Banque Internationale a Luxembourg SA also lagged its announcement through the Hong Kong bourse, it said.
The company also failed to disclose that shares of some Legend subsidiaries were used as collateral, while information involving non-operational lending activities was not accurate.