On November 13, 2015 (October 2, 2015 in the lunar calendar), Yao Gang, Vice Chairman of the China Securities Regulatory Commission, was investigated and accused of conspiring with overseas countries to short A shares. Yao Gang On November 13, 2015, the website of the Central Commission for Discipline Inspection released a message stating that Yao Gang, member of the Party Committee and Vice Chairman of the China Securities Regulatory Commission, was suspected of serious violations of discipline and was currently under organizational investigation. Yao Gang's fall off the horse may seem sudden, but there are already clues. Just two months ago, Yao Gang's previous secretary, Liu Shufan, was taken criminal coercive measures in accordance with the law for suspected insider trading and other behaviors. Coupled with the incident at the end of last year, Li Liang, director of the Investor Protection Bureau of the China Securities Regulatory Commission, makes people have to speculate whether Yao Gang's fall was related to the above-mentioned people. Yao Gang, in charge of distribution, was born in May 1962, Han nationality, from Wenshui, Shanxi Province. After entering the Department of International Politics of Peking University as the top scorer in the college entrance examination in 1980, he was publicly sent to Japan to study and received a doctorate in economics from the University of Tokyo, Japan. Yao Gang has successively worked for Sanyo Securities of Japan, Societe Generale Tokyo Securities, and Credit Lyonsa Tokyo Securities. After returning to China, Yao Gang joined the China Securities Regulatory Commission in 1993, serving as deputy director and later director of the Futures Department. He was the founder of the Futures Department of the Securities Regulatory Commission. After the accident at Junan Securities in 1998, Yao Gang was responsible for presiding over the merger of Junan Securities and Guotai Securities. In 1999, after the merger of Guotai and Junan securities companies, Yao Gang, who had previously been appointed chairman of Junan Securities, was appointed general manager, deputy secretary of the party committee and vice chairman of the new company (Guotai Junan Securities Co., Ltd.). In 2002, Yao Gang returned to the China Securities Regulatory Commission to take over the position of director of the Issuance Supervision Department. In July 2004, Yao Gang was promoted to Assistant Chairman of the China Securities Regulatory Commission, Member of the Party Committee and Director of the Issuance Supervision Department. At that time, Yao Gang was the youngest and most ranked among the three chairmen 'assistants at the time. In 2008, Yao Gang was promoted to vice chairman of the China Securities Regulatory Commission. Some industry insiders call Yao Gang "a representative figure who dares to pioneer and is active and pragmatic among the young and strong people." Some people once analyzed that the reason why Yao Gang's career was smooth was due to his daring style and fierce and powerful character. There was no news of him after the stock market crash. When Yao Gang served as director of the issuance supervision department of the China Securities Regulatory Commission and assistant to the chairman of the China Securities Regulatory Commission, he promoted the IEC (Stock Issuance Review Committee) system and pioneered the issuance sponsor system. The IEC and the recommendation system are closely related to issuance and are regarded by many as the key to the power rent-seeking of the securities regulatory system. Yao Gang's whereabouts were never disclosed on the website of the China Securities Regulatory Commission after the stock market crash. As early as two weeks ago, some media exposed the inside story of Yao Gang's downfall. Hong Kong media previously pointed out that a bigger "stock traitor" than Zhang Yujun would fall and is now under control. Hong Kong media said that during the rescue period, some senior officials of the China Securities Regulatory Commission illegally transferred huge amounts of funds to Hong Kong and Singapore and colluded with overseas countries to short the China stock market. The person responsible for transferring funds had been "persuaded" from Hong Kong to the mainland and surrendered himself. Yao Gang's interpersonal relationship chart