An asset-management arm of Guotai Haitong Securities, a leading Chinese brokerage, was ordered to pay 52. 5 million yuan (US$7. 8 million) in fines and penalties for activities undertaken by its offshore investment business as Beijing tightens its scrutiny of capital flows.
Source: [SCMP](https://www.scmp.com/business/china-business/article/3364770/chinese-regulators-slap-us78m-penalty-guotai-haitong-arm-amid-capital-flow-crackdown?utm_source=rss_feed)