Banking Regulator Mulls Banning Ex-officials from Lending Sector for Three Years

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CBRC is considering the implementation of a ban on former officials joining financial companies which fall within its regulatory purview for a period of three years.

Sources told Bloomberg that the ban would apply to CBRC officials who voluntary resign, and would prevent them from directly holding positions with regulated institutions for a period of three years from the date of their departure.

According to the source CBRC is currently working on a draft version of the relevant provisions for opinions, with final details yet to be confirmed.

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