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Yongcheng Coal Banned From Debt Sales for a Year Current and former chairmen of Yongcheng Coal and Electricity Holding Group Co. Ltd. are deemed inappropriate candidates for positions in the debt financing instrument market for a year. Yongcheng Coal and Electricity Holding Group Co. Ltd. was banned from debt sales for a year by China’s interbank bond market regulator after the state-owned coal mine operator’s bond default two months ago set off a chain reaction in the bond market. A “self-disciplinary” investigation into Yongcheng Coal found a number of violations, including inaccurate and incomplete information on the company’s independence disclosed in its bond issuance prospectus. The probe also turned up failure to accurately disclose assets used by the company’s controlling shareholder and related-party transactions with the controlling shareholder, the National Association of Financial Market Institutional Investors (NAFMII) said Thursday in a statement.

Denise jiaQiang daiminBob simisonLiu yinzhiXian xigema limited liability accounting firmChemical industry group coHenan energyElectricity holding group coAdministration commissionChina securities regulatory commissionDonghai fund management coHaitong securities coChina chengxin international credit rating coNational association of financial market institutional investorsYongcheng coalElectricity holding group