Former IPO Review Official Expelled From Party for Corruption

What’s new: Zeng Changhong, a former securities regulator overseeing new stock offerings, was expelled from the Communist Party and faces criminal charges for corruption, the country’s top graft busters said Friday.

Zeng was placed under party investigation six months ago. The 61-year-old official seriously violated party discipline, committed severe violations of duty and is suspected of crimes involving a huge amount of illegal gains, according to the Central Commission for Discipline Inspection (CCDI) and the National Supervisory Commission. The case was transferred to the judiciary system for criminal investigation.