Jun 15, 2022 04:19 AM

FINANCE

China Denies Warning Global Banks on Executive Pay

By Quan Yue and Denise Jia

The CSRC said it “fully respects the discretionary business decision-making of financial institutions.”

The CSRC said it “fully respects the discretionary business decision-making of financial institutions.”

China’s securities regulator denied a media report Tuesday that it asked foreign investment banks to disclose their senior executives’ compensation details or suggested pay curbs.

Citing people familiar with the matter, Bloomberg reported Sunday that Chinese regulators summoned major global banks in Shanghai and Beijing including Credit Suisse Group AG, Goldman Sachs Group Inc. and UBS Group AG and warned them against paying top bankers in China lavishly.

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