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 —