exchange administration: In separate statements released late on Thursday, the Central Commission for Discipline listed a series of problems it had found at each of the regulators, according to Euro News. At the foreign exchange administration, it said some officials ignored discipline rules, that there were problems with promotions being not standard enough and weak law-enforcement oversight. The four – the People Bank of China , State Administration of Foreign Exchange, China Banking Regulatory Commission and China Securities Regulatory Commission – all said they took the issue seriously and vowed to follow party rules on fighting corruption. At the PBOC, the central bank, public funds were spent on gifts, while at the banking regulator public funds were spend on holidays, the watchdog said. There exist hidden dangers for breeding corruption, the statement added. For the stock markets regulator, there was only lip service paid by some to anti-graft rules and insufficient oversight over certain sensitive posts, though it did not say which.
(news.financializer.com). As
reported in the news.
Tagged under exchange administration, People Bank of China , State Administration of Foreign Exchange topics.