December 1, 2014 / 12:58 PM / in 3 years

China probes senior official from securities regulator for graft

BEIJING (Reuters) - China’s securities regulator said on Monday that its director in charge of a department to protect investors is being investigated for graft, the latest target in China’s aggressive anti-corruption drive.

Li Liang, who heads the Investor Protection Bureau, is suspected of “serious violation of discipline and laws”, the China Securities Regulatory Commission (CSRC) said in a statement on its website.

The one-line statement did not give any details of the investigation. In China, the term “serious violation of discipline and laws” can be used to denote corruption. It was not possible to contact Li.

President Xi Jinping has said endemic corruption threatens the Communist Party’s very survival and has vowed to go after high-flying “tigers” as well as lowly “flies”.

Reporting by Sui-Lee Wee

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