Hong Kong’s anti-graft officers have raided the home of Wong Tung Ching, who is the deputy chief executive of Hong Kong-listed mainland brokerage, Guotai Junan.
The brokerage said that the probe is associated with an alleged offence under the Prevention of Bribery Ordinance of an agent "accepting advantages."
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Ching, who manages capital-market business including initial public offerings, had been reportedly directed to assist an ICAC investigation, concerning the alleged acceptance of advantages by an agent.
Guotai Junan said that officers have also seized certain securities trading-account records and an agreement regarding a placement from the firm’s office, though no one has been arrested yet.
The company has also vowed to co-operate with the anti-graft agency and hand over more documents to the agency at a later date.
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