China Zheshang Bank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
2023
Former chairman Shen Renkang under disciplinary review and supervisory investigation
On February 6, 2023, the Zhejiang Provincial Commission for Discipline Inspection and Supervisory Commission announced that Shen Renkang, former party secretary and chairman of China Zheshang Bank, was suspected of serious disciplinary and legal violations and was undergoing disciplinary review and supervisory investigation. This entry is based on the investigation notice and does not state that the suspected violations have resulted in a criminal sentence. On February 6, 2023, the Zhejiang Provincial Commission for Discipline Inspection and Supervision announced that Shen Renkang, former Party Secretary and Chairman of China Zheshang Bank, was suspected of serious violations of discipline and law and was placed under disciplinary review and supervisory investigation. This entry is based on the investigation announcement and does not treat suspected violations as a criminal conviction.
2018
Fined 55.5 Million Yuan by CBIRC for Multiple Wealth Management Violations
In 2018, the China Banking and Insurance Regulatory Commission found China Zheshang Bank guilty of seven violations, including failure to conduct due diligence in reviewing interbank wealth management investments, illegal investment of wealth management funds, and provision of principal guarantees, and imposed a fine of 55.5 million yuan. The decision was made in November and publicly disclosed in December. This entry concerns wealth management compliance enforcement and is distinct from the personal investigation of the former chairman.