China’s third largest investment bank has reportedly told analysts not to publish bearish reports about the country’s financial markets.
CICC told analysts not to publish bearish views about China’s financial markets, according to a «Bloomberg» report citing an internal memo sent to the bank’s research department.
Staff were also told to refrain from commenting on issues that are not in line with government policy and to exercise extra caution when dealing with overseas clients to avoid political and national security risks.
In addition, CICC also told staff not to wear luxury brands or disclose their pay, adding that even their family members should «adhere to social and ethical standards». It was previously reported in April that CICC slashed banker bonuses by as much as 40 percent.
