CITIC Limited controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2008
Unauthorized foreign-exchange trading controversy
CITIC Pacific disclosed approximately HK$15 billion in losses from unauthorized Australian-dollar hedging contracts. The board had learned of the positions before public disclosure, leading to questions about internal controls, board oversight and the timing of market announcements. Trading was suspended, the share price fell sharply after resumption, and the episode was followed by regulatory and police scrutiny and senior-management resignations.