Chinese regulator fined five banks, relevant personnel total 366 million yuan for rule violations

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China's banking and insurance watchdog has imposed fines on five of the country's commercial banks and relevant personnel in another warning shot to the industry to stay away from misconduct and tame financial-market risks.

The China Banking and Insurance Regulatory Commission (CBIRC) fined the lenders a total of 366 million yuan ($56.8 million) for violating several rules and regulations and pledged to step up scrutiny to maintain financial stability, it said in a statement on Friday.

The move points to an escalation in the country's enforcement actions following a series . . .

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