China extends anti-corruption pay rules to brokerages' offshore ops

China's securities regulator and industry body are revising 'clean practices' rules to close compensation loopholes for brokerage staff, extending oversight to overseas operations for the first time. This signals a tightening of regulatory scrutiny on the financial sector, potentially affecting brokerages' offshore business models and compensation structures. The move aligns with Beijing's broader push to build world-class investment banks while curbing corruption.