Everbright Securities ban lifted

Everbright Securities, which has been in hot water since the occurrence of a trading glitch last year, said Wednesday that the ban on its eligibility for approving proposals for new businesses has been lifted.

The firm said the China Securities Regulatory Commission (CSRC) has cleared the brokerage house from previous punishments that included a shutdown of its proprietary trading desks and a suspension on its approving new business proposals.

The CSRC's decision took effect on Monday.

Erroneous trades executed by Everbright Securities in August 2013 got the brokerage firm mired in trouble, with the CSRC slapping the firm with record penalties totaling 523 million yuan ($85 million), in addition to halting some of its businesses.