China's top banking regulator is under investigation for misfeasance, with the regime's Central Commission for Discipline Inspection couching its announcement in terms usually reserved for suspects of corruption.

It has not yet been announced that Yang Jiacai, 56, has been deposed from his job as assistant chairman of the China Banking Regulatory Commission, but his biography has reportedly been removed from the CBRC website.

Yang is by no means the first financial regulator to be ensnared in President Xi's clampdown on corruption in public offices. According to the London Financial Times, Xiang Junbo, 60, the chairman of the China Insurance Regulatory Commission, had to leave his post in April. Xiang is - or, at least, was - on the Communist Party’s 200-strong central committee. In 2014 the New York Times reported that Xiang asked Jamie Dimon, the CEO of JP Morgan, to give a job to the daughter of one of his close friends. She was subsequently hired.