China places former deputy of top financial regulator under investigation

China has placed one of its top former financial regulatory officials under investigation, the nation’s main anti-corruption body announced on Friday. Fang Xinghai, former vice-chairman of the China Securities Regulatory Commission (CSRC), is suspected of “serious legal and disciplinary violations” – a euphemism for corruption and abuse of power – and is currently being investigated, China’s Central Commission for Discipline Inspection (CCDI) said in a statement. The 62-year-old, who held the...