Party Investigates Regulatory Official Who Oversaw Brokerages

(Beijing) – An assistant chairman at the China Securities Regulatory Commission (CSRC) has come under investigation by the Communist Party, just after the regulator fined brokerages he oversaw for their involvement in margin trading it blames for recent stock market volatility.

Zhang Yujun, 52, was placed under investigation for "severe violation of discipline," a phrase the party usually uses for corruption, the Central Commission for Discipline Inspection said on its website on September 16. The graft buster did not say why exactly it is investigating Zhang.