BOC International clears Guotai Junan merger of insider trading

BOC International Securities, acting as independent financial advisor for Haitong Securities (SSE: 600837), has cleared the proposed merger with Guotai Junan Securities of insider trading allegations. A review of stock transactions by insiders from March 5, 2024, to November 21, 2024, revealed trading activity by several individuals, including relatives of advisors and employees of both firms. However, BOC International concluded these transactions were based on public information and individual investment decisions, unrelated to the merger. The report details stock trades in both Guotai Junan and Haitong Securities, attributing the activity to routine market operations, investment strategies, and pre-existing shareholding plans. BOC International confirms these trades do not pose a legal obstacle to the merger.