On August 24, 2016, Bloomberg reported that China imposed limits on peer-to-peer lending in order to control risks in the loosely-regulated shadow-banking sector. These new regulations bar lenders from taking public deposits or selling wealth-management products, and force lenders to engage qualified banks as custodians and improve information disclosure. The new regulations also cap individual borrowing at 1 million yuan ($150,000). Following this news, Yirendai stock dropped over 22%, to close at $24.52 per share on August 24, 2016.
If you purchased Yirendai securities or if you are aware of any facts relating to this investigation, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/yrd. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
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