Yi Huiman, the former regulator of China’s equities market, is being investigated for disciplinary breaches, as the country’s long-standing anti-graft campaign extends into all corners of the financial industry, from banking to the stock market.
Yi, the chairman of the China Securities Regulatory Commission (CSRC) from January 2019 to February 2024, has been detained by the Communist Party’s disciplinary unit for severe breaches in discipline, according to the Central Commission for Discipline Inspection, which did not elaborate on the probe.
In China, the official language of suspected disciplinary breaches is often referred to as economic crimes in the statements announced by the anti-graft body. Yi’s detention was reported on Friday on Caixin.com, but the report was soon taken down from its website.
A statistician by training, Yi would be the second watch-dog regulator of China’s US$12 trillion capital market – the world’s second largest – to be investigated for graft in a decade, and the third to be fired since 2016.
