Founder Securities under probe over 'disclosure violations'

The logo of Founder Securities Co Ltd is seen in Shanghai, Feb 3, 2015.[Photo/IC]

Founder Securities Co Ltd said it has received securities regulator's notice that the company is under investigation for possible disclosure violations.

The Shanghai-listed brokerage said in a statement issued on Wednesday that it had received an investigation notice from the China Securities Regulatory Commission Tuesday.

The CSRC will probe Founder Securities for failing to disclose the relationship between controlling shareholders and other shareholders based on the securities law of the People's Republic of China.

The top 10 shareholders of Founder Securities include Founder Group, Lide Technology Development Co Ltd, Harbin Hatou Investment Co Ltd, Beijing Wanhua Xinrong Investment Consulting Co Ltd, Leshan State-owned Assets Management Co Ltd and Orient Group Inc.

Founder Securities said the company will assist in the investigation and disclose related information in time.