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Then, as more doctors faced regulatory action or scrutiny, more patients followed.
He points out that nearly all of his prior Chinese targets have since faced regulatory action, had auditors resign or even been delisted altogether.
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By then, First Alliance was also facing regulatory action in at least five states.
The spokesman said that anyone who had deliberately tried to engage in illegal short selling transactions using shares they had not been issued could face regulatory action.
Alliance would be the second mutual fund company to face regulatory action in the widening investigation of trading in the industry.
Only two of them were facing regulatory action from the CQC, suggesting problems were slipping under the radar.
It then lays odds that particular firms may face regulatory problems, class action litigation, a plunging stock price or outright bankruptcy.
Late last week, the company withdrew from Washington State, where it was facing a regulatory action aimed at suspending its license.
In resisting the S.E.C. complaint, Ernst officials expressed concern that it might face state regulatory action as well.
The world's richest sovereign wealth fund removed 32 coal mining companies from its portfolio in 2014, citing the risk they face from regulatory action on climate change.
The asset manager, based in San Francisco, disclosed last Monday that it was liquidating three poorly performing mutual funds, and that it was facing possible regulatory action by the Securities and Exchange Commission.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com