Top mainland over-the-counter exchange investigating "ultra high" quotes

The operator of Beijing’s New Third Board, the mainland’s leading off-market equity exchange, has announced it is investigating a series of “ultra-high” price quotations from the week of March 23-27, Reuters reported. “We have zero tolerance, and will take out our sword,” said the National Equities Exchange and Quotations. The New Third Board, previously a backwater, has become the mainland’s hottest stock market over the past year as government policies aimed at developing alternative funding sources for small companies have led more than 2,000 of them to list on the over-the-counter exchange.