Futures brokers' licences revoked

The China Securities Regulatory Commission (CSRC) has cancelled the licences of six futures brokerages for failing to comply with CSRC regulations, the Shanghai Securities News reported. The six either failed to begin operation after the granting of licences, halted trading activities for six consecutive months or more, falsified their registered capital, had liabilities in excess of their assets or did not submit their accounts for annual inspection, the newspaper said yesterday. The brokerages are Yunnan Yunsheng Futures Brokerage Co, Yunnan Shangjiao Futures Brokerage Co, Dadi Futures Brokerage Co, Hubei Huatai Futures Brokerage Co, Shanghai Pacific Futures Brokerage Co and Hunan Hengtong Futures Brokerage Co.