PBOC cracks down misconduct in securities, banking

CHINA - The People's Bank of China (PBOC), the country's central bank, plans to focus its efforts on cracking down on misconduct within the financial markets.

In terms of securities-brokerage firms, the following types of misconduct are expected to be the main targets of the PBOC's crackdown efforts:

Transfer of overseas settlement accounts to other offshore banks;

Illegal transfer of capital between different B-share investors' accounts;

Failure to register B-share margin accounts with the State