BEIJING, Sept. 11 -- China's securities watchdog on Friday announced punishments for five brokers for illegal operations.
The five brokers include Huatai Securities, Haitong Securities, Guangfa Securities, Founder Securities and Zheshang Futures, according to the China Securities Regulatory Commission (CSRC).
The first four brokers were accused of failing to check and verify clients' real identities, while Zheshang Futures was accused of flawed risk control.
The watchdog will confiscate their illegal profits and fine them.
Haitong Securities will hand over 28.65 million yuan (4.48 million U.S. dollars) in illegal profits and 85.96 million in fines. Huatai Securities will turn in 18.23 million yuan in illegal profits and 54.7 million yuan in fines.
Brokers should strictly follow regulations to verify clients' identities and control risks, the CSRC said in an online statement.
Models change clothes on street in Hangzhou
Charming iron ladies in China's upcoming V-Day celebrations
In pics: armaments displyed in massive military parade
Charming Chinese female soldiers
Volunteers required not taller than 5ft 5in 
Czech pole dancing master teaches in Xi'an
Shocked! PLA smokescreen vehicle drill
Foreigners experience tranditional Chinese wedding
Blind date with bikini girls in Nanjing
Living heritage
More SOE reforms on the way
NYT shifts refugee crisis attention to China
Govt cracks down on editors accepting bribes to delete negative online reportsDay|Week
