China's securities watchdog said it has dismissed Li Zhiling, the head of its share issuance bureau, for violating rules intended to prevent conflicts of interest.Separately, the China Securities Regulatory Commission (CSRC) said that following a year-long investigation by the party’s anti-corruption authorities, Li’s case was handed over to the police.Li held a powerful position in charge of reviewing refinancing requests, and oversaw share issuances by companies listed on the Shenzhen and Shanghai stock exchanges.According to an announcement on the CSRC’s weibo account, she was dismissed when officials found that her husband was trading stocks.CSRC regulations prohibit family members of regulators from trading stocks to avoid conflicts of interest.Sources close to the situation say many in the CSRC knew of the probe by the Central Commission for Discipline Inspection, but few expected the investigation to involve her husband's duties.The CCDI had met with Li several times, though none of the conversations seemed to have any negative impact on her job.Li was last seen in the office on Friday, June 19.For Caixin online, this is Samuel Liu.
