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Data vendor Sumscope fined by Chinese regulator for abuse of dominance

( September 9, 2024, 03:36 GMT | Official Statement) -- MLex Summary: Chinese bond-data vendor Ningbo Sumscope Information Technology has been fined 4.5 million yuan ($640,000), equivalent to 2 percent of its sales for 2022, by the Shanghai municipal Administration for Market Regulation for abusing its dominant position in the market for the sale of real-time bond-brokerage data services. The regulator initiated an investigation into the case in March last year. The investigation found that Sumscope imposed unreasonable trading conditions such as setting minimum purchase requirements, which raised barriers for market players to access relevant data and impaired the interests of bond brokerages and investors.The statement follows and the file is attached:...

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