China Probing Regulator Over Stock Market Rescue, WSJ Saysby
Chinese authorities are probing whether officials at the nation’s securities regulator used their knowledge of last summer’s attempted stock-market rescue to enrich themselves or their friends, The Wall Street Journal reported, citing agency officials familiar with the investigation.
Two senior officials at the China Securities Regulatory Commission have been removed from their posts and investigated on suspicion of providing information about the government’s moves to private investors, the newspaper said.
Chinese government investigators are working from the regulator’s offices in Beijing and have banned CSRC officials from leaving the country, the WSJ said.
CSRC representatives didn’t respond to requests for comment, according to the newspaper. China previously investigated investors and brokerages in connection with the attempted market rescue.