Another Senior Securities Regulator Probed for Graft

A former senior official at the Chinese securities regulator has been placed under investigation by the country’s top anti-graft agency, as Beijing continues its drive to stamp out misconduct in the financial sector.

Wang Zongcheng, who until Tuesday was director of the accounting department at the China Securities Regulatory Commission (CSRC), is being investigated on suspicion of serious violation of law and Communist Party discipline, the Central Commission for Discipline Inspection (CCDI) said in a statement on its website on Thursday, without offering details. Announcements of such nature typically allude to graft.