China's Citic, Guotai Junan to boost compliance staffing in Hong Kong after raid
Citic CLSA and Guotai Junan International are increasing their legal and compliance staff in Hong Kong following a regulatory probe into insider trading. The firms are hiring to bolster compliance amid heightened scrutiny of fundraising activities. Citic CLSA plans to add at least three compliance staff, while Guotai Junan is seeking a senior compliance manager. The regulatory crackdown has intensified pressure on investment banks to enhance due diligence and internal controls. Both firms are responding to the investigation that led to the questioning of several staff members, including senior executives.
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