Restoring Confidence Regulators are seeking to restore confidence in Chinas financial market by pledging to crack down on cases of insider trading , securities fraud and accounting flaws. The China Securities Regulatory Commission has stepped up enforcement of regulations since Chairman Xiao Gang took office in March by rebuking or punishing at least three brokerages for inadequate due diligence on initial public offerings. The CSRC is drafting rules to curb misconduct before ending an almost 10-month freeze on IPOs.
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Housing bust’s recovery hampered by tight credit
All told, an estimated 7 million homes have been lost to foreclosure or short source sale in the housing bust, says market researcher RealtyTrac. The change isn’t a bad thing, says Adele Montoya, 38. She works as an office supervisor. Her husband works as a produce supervisor in a grocery chain.
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