CITIC Group controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Retail bondholder complaint against CITIC CLSA
Some Hong Kong retail holders of CEFC bonds complained to the Securities and Futures Commission about CITIC CLSA's conduct as sole underwriter.
2018
CEFC repayment and bond default episode
CEFC Europe faced creditor action after an announced repayment associated with CITIC was not made within the stated period. CEFC Shanghai subsequently defaulted on bond payments.
2016
CEFC Shanghai bond underwriting controversy
CITIC CLSA's role as sole bookrunner for a CEFC Shanghai bond issue drew allegations that the market was not fully informed about subscription levels and that the underwriter sought to distribute bonds held on its balance sheet.
2008
CITIC Pacific foreign-exchange losses
CITIC Pacific disclosed unauthorized foreign-exchange positions that produced approximately HK$14.7 billion in mark-to-market losses. The disclosure led to senior finance executive resignations and a sharp fall in the subsidiary's share price.