China demotes four banking regulators for violating Communist rules
China's Central Commission for Discipline Inspection (CCDI) has demoted four bank regulators for violating Communist rules and procedures, in the latest round of punishments being issued by China's financial sector, as part of President Xi Jinping's ongoing anti-corruption campaign. Wang Yanyou stands accused of concealing that his wife had become a US citizen and attending conferences without approval; Jiang Fengli has been demoted for taking cash gifts at his daughters wedding and appointing staff against Communist Party procedure; and the other two regulators for gambling and promoting staff. The CCDI is presently investigating 14 major financial institutions, including People's Bank of China, China Development Bank, and Industrial and Commercial Bank, as well as insurance companies and stock exchanges.

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