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China regulator to launch probe into underwriters of Yongcheng Coal bonds

SHANGHAI, Nov 19 (Reuters) - China’s interbank bond market regulator said on Thursday it would launch probes into three banks for their role in underwriting bonds issued by Yongcheng Coal & Electricity Holding Group, which defaulted last week.

The National Association of Financial Market Institutional Investors (NAFMII) said in a statement that Industrial Bank Co , China Everbright Bank, Zhongyuan Bank Co are suspected of violating rules.

NAFMII also said Xigema Certified Public Accountants and credit rating agency China Chengxin International Credit Rating Co are suspected of misbehavior. (Reporting by Samuel Shen and Andrew Galbraith; Editing by Toby Chopra)

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