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The Chinese Communist Party’s Central Commission for Discipline Inspection said in a brief statement that China Securities Regulatory Commission Vice Chairman Yao Gang is suspected of serious violations of discipline， language the antigraft body uses for suspected corruption.
Mr. Yao， who wasn’t available for comment， has served as a vice chairman of the regulatory agency since 2009 and is among the Communist Party’s top officials there. One of four vice chairman at the regulatory agency， the 53-year-old has headed since 2002 the regulator’s powerful listing department that chooses which companies can go public on the stock exchanges of Shanghai and Shenzhen.
It isn’t known if he has a lawyer but the party’s antigraft agency often holds officials for extended periods without making charges public or allowing suspects to make public comments.
In recent months， Chinese authorities have signaled the securities arena is a focus for its graft investigations and official notices of investigations and police detentions show regulatory officials and top officers at securities firms are among those coming under scrutiny. Over the weekend， Chinese state media described Mr. Yao as the most senior industry official so far investigated.
Mr. Yao， who wasn’t available for comment， has served as a vice chairman of the regulatory agency since 2009 and is among the Communist Party’s top officials there. One of four vice chairman at the regulatory agency， the 53-year-old has headed since 2002 the regulator’s powerful listing department that chooses which companies can go public on the stock exchanges of Shanghai and Shenzhen.
It isn’t known if he has a lawyer but the party’s antigraft agency often holds officials for extended periods without making charges public or allowing suspects to make public comments.
In recent months， Chinese authorities have signaled the securities arena is a focus for its graft investigations and official notices of investigations and police detentions show regulatory officials and top officers at securities firms are among those coming under scrutiny. Over the weekend， Chinese state media described Mr. Yao as the most senior industry official so far investigated.