A former Everbright Securities Co. trader said he filed a lawsuit against China’s securities watchdog seeking to overturn a lifetime ban from the industry imposed after errant trades by the broker roiled local markets.
The Australian dollar is poised to reverse its advance to a one-month high against the yen, trading patterns suggest, after the currency pair tracked a recovery in investor appetite for riskier assets.
China’s securities watchdog is forging ahead with rules that allow brokers to invest in complex financial products and enter risky new businesses even after an unprecedented $3.8 billion trading error roiled markets.
Pakistan’s benchmark stock index rose, set for a five-week high, after the Securities and Exchange Commission said it will evaluate a plan tomorrow for investors to trade shares using money borrowed from brokers.
Pakistan’s benchmark stock index rose, on course for its highest in almost eight weeks, after the regulator agreed to allow investors to fund transactions with money borrowed from brokers and financial institutions.
Haitong Securities Co. led a rally for brokerages in Shanghai on improved earnings prospects for the industry after the government said it would allow more stocks to be used for margin trading and short selling.
The fate of the Dodd-Frank Act’s ban on banks trading for their own accounts -- one of the final pieces of the U.S. effort to prevent a repeat of the 2008 financial crisis -- may rest with a cluster of economists at the Securities and Exchange Commission.