(CBN - Global) April 27 -- Mr. Zhou Wenwei, a member of the Mergers, Acquisitions and Restructuring Committee of the China Securities Regulatory Commission, is under investigation.
Therefore the 29th meeting of the Mergers, Acquisitions and Restructuring Committee this year will be postponed due to Mr. Zhou being unable to attend, the CSRC's Department of Supervision of Listed Companies has announced.
Mr. Zhou is an expert in merger and acquisitions approval. He worked at the Shanghai Stock Exchange for over a decade in various roles, including as the deputy director of the Department of Company Supervision. In 2012, Mr. Zhou was appointed a member of the Fourth Committee of the Mergers, Acquisitions and Restructuring Committee of the CSRC and again as a member of the Fifth Committee in 2014. Last year, Mr. Zhou left his position at the SSE and joined Haitong M&A Capital Management (Shanghai) Co. as its risk control director.
Mr. Zhou will be cooperating with investigations and should be fine, a source close to the SSE revealed. Some major asset restructuring cases that were approved by the CSRC have triggered disputes within the Department of Supervision of Listed Companies, said an intermediary close to the CSRC.