Some defense lawyers need to pay closer attention to possible conflicts of interest when they represent both companies and their employees in front of the U.S. Securities and Exchange Commission, the agency’s top enforcement official said.
China moved its securities regulator Shang Fulin to head the nation’s banking watchdog, overseeing a 106 trillion-yuan ($17 trillion) industry that includes four of the world’s 10 largest lenders by market value.
China may name new heads for the nation’s banking and insurance regulators as early as this week as the current chairmen have reached the compulsory retirement age of 65, Reuters reported, citing three people it didn’t name.
The combined first-quarter profit of China’s insurers may have risen 110 percent from a year earlier to 18 billion yuan, Wu Dingfu, Chairman of the China Insurance Regulatory Commission, said in a statement posted to the regulator’s Web site.
Ping An Insurance (Group) Co. , China’s second-largest insurer, is diversifying into property and private equity and increasing holdings in Chinese stocks to boost investment performance after its worst year since 2005.