Scandals set off watchdog warnings

Shanghai's banking regulator has told lenders to set up telephone hotlines for complaints about staff misconduct in selling wealth management products.

The move is seen as a gesture towards protecting consumer rights after a slew of irregularities in the banking sector.

The Shanghai branch of the China Banking Regulatory Commission (CBRC) and the city's banking association also told customers to report bank employees involved in the underground financing market, another risk highlighted by the CBRC.

via Business feed http://www.scmp.com/business/banking-finance/article/1135509/scandals-set-watchdog-warnings