The party’s Central Commission for Discipline Inspection has demoted four bank regulators, Reuters reported. Wang Yanyou, party secretary at the China Banking Association and former department head at the China Banking Regulatory Commission (CBRC), was removed for concealing his wife had become a US citizen and for attending conferences without approval; Jiang Fengli, former head of the CBRC in Nanyang, Henan province was demoted for irregular staff appointments and taking cash gifts from CBRC staff at his daughter’s wedding; two other regulators working at the CBRC’s office in Liaoning province were demoted for gambling and irregular staff promotions, respectively.
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