China’s financial regulator plans to increase punishment for financial crimes and speed up the time it takes to prosecute them using regulation it calls “with teeth and thorns.”

The National Financial Regulatory Administration (NFRA), established last year to oversee China’s $57 trillion financial sector, said on Sunday in a statement on its official WeChat account that the approach would involve zero-tolerance for all illegal behaviour and a willingness to “punish the higher-ups, not just the subordinates.”…

This data comes from the ChinaPulse.com media intelligence and smart news insights monitoring platform.