Regulator Criticizes Three Bond Underwriters in Yongcheng Co

Regulator Criticizes Three Bond Underwriters in Yongcheng Coal Scandal


Regulator Criticizes Three Bond Underwriters in Yongcheng Coal Scandal
A self-regulatory body under China’s central bank announced that three major underwriters of Yongcheng Coal’s bonds had violated self-regulatory rules of the interbank bond market.
China’s interbank bond market regulator has criticized three more financial institutions involved in shady bond issuances by state-owned
Yongcheng Coal, the latest of 11 companies to be named and shamed after the coal miner’s surprise default shattered confidence in debt offerings by state-owned enterprises (SOEs).
On Friday, the National Association of Financial Market Institutional Investors (NAFMII), a self-regulatory body under China’s central bank, announced that three major underwriters of Yongcheng Coal’s bonds — 

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