Morgan Stanley gets nod to raise China securities JV stake

The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in the Manhattan borough of New York City, January 20, 2015. REUTERS/Mike Segar

Morgan Stanley has received China securities regulator’s approval to boost its stake in its Chinese securities venture to 49 percent, said a person with direct knowledge of the matter, making it the first foreign bank to get such a nod.

The confirmation came after the Shanghai office of the China Securities Regulatory Commission (CSRC) posted on its website it had approved the important terms of the articles of association of joint venture Morgan Stanley Huaxin Securities Co Ltd.

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