Securities firms need to take stock as sector comes under fire

Securities firms face more financial pressure after being hit by massive fines under the government's plan to beef up the role of the China Securities Regulatory Commission.

Four major securities companies and one futures brokerage have felt the full weight of the market watchdog.

Haitong Securities Co Ltd, Huatai Securities Co Ltd, Founder Securities Co Ltd, GF Securities Co Ltd and Zheshang Futures Co Ltd were fined a total of 240 million yuan ($37.8 million) last month.