China names and shames misbehaving shareholders of banks, insurers – ZAWYA

China names and shames misbehaving shareholders of banks, insurers – ZAWYA

China names and shames misbehaving shareholders of banks, insurers | ZAWYA MENA Edition HomeMarketsEquitiesArticleChina names and shames misbehaving shareholders of banks, insurers The China Banking and Insurance Regulatory Commission said the disclosure aimed to limit financial risks and improve corporate governance, adding that such lists of names would be regularly published in future    Image used for illustrative purpose. The skyline of the Beijing's Central Business District rises behind people crossing a street during evening rush hour as the spread of coronavirus disease (COVID-19) continues in China, April 15, 2020. SHANGHAI/BEIJING  - Chinese regulators adopted shock and awe tactics on Saturday to target misbehaving shareholders of banks and insurers by naming and shaming 38 corporate investors for having "gravely" violated rules and laws in their first such exercise.The China Banking and Insurance Regulatory Commission (CBIRC) said the disclosure aimed to limit financial risks and improve corporate governance, adding that such lists of names would be regularly published in future.China has stepped up scrutiny of shareholders in financial institutions after the failure of once-acquisitive conglomerate Anbang Insurance Group, which the government seized in early 2018. Its chairman and key shareholder, Wu Xiaohui, was prosecuted for economic crimes.  The China Banking and