China’s Ex-Financial Watchdog Chief Ousted in Corruption Probe

Li Yunze, the inaugural head of China’s National Financial Regulatory Administration (NFRA), has been stripped of his status as a national lawmaker for “serious violations of discipline and law” — a euphemism for corruption. 

The revocation by Sichuan’s provincial legislature, disclosed in a bulletin published in July, provides the first official explanation for Li’s sudden downfall. He was quietly removed from his post at the financial watchdog in April.