China Regulator May Punish Evergrande’s Intermediaries: Radio

China’s securities regulator should probe Evergrande Real Estate’s intermediaries after the authorities’ found fraud in the developer’s business, the state-run China National Radio reports on its website, citing opinions from lawyers and auditing experts.

• The intermediaries may be punished and ordered to pay civil compensation
• Report says PwC handled Evergrande Real Estate’s audits, and that rating agency CCXI has given the Evergrande unit’s bonds its highest rating
• Report adds that CSC Financial was the lead underwriter for some of the Evergrande unit’s bond issuances
• NOTE: China Scrutinizes PwC Role in $78 Billion Evergrande Fraud Case

--With assistance from Wenshan Luo ...