the Discipline Inspection and Supervision Team of the Central Commission for Discipline Inspection and the National Supervision Commission stationed in the China Securities Regulatory Commission and the Supervision Commission of Shantou City, Guangdong Province, recently conducted disciplinary review and supervision investigations into Yao Qian, former director of the Science and Technology Supervision Department of the China Securities Regulatory Commission and former director of the Information Center, for serious violations of discipline and law.

After investigation, Yao Qian abandoned his original mission, disregarded politics, pursued fame, claimed to be a financial technology expert, and spared no effort to support specific technology service providers for his own benefit, becoming a "key cultivation object" for hunters. He abused his regulatory powers such as policy advice, formulation, and execution, abandoned his technology supervision responsibilities, sought improper benefits for others in expanding business in information technology system service agencies, software and hardware procurement, and engaged in power-for-money transactions using virtual currency. He engaged in superstitious activities, disregarded the eight-point code of conduct, violated regulations by accepting expensive gifts such as Maotai liquor and banquets, violated organizational principles by seeking benefits for others in staff recruitment, violated integrity and discipline by having his rental car expenses paid by the regulatory target, illegally borrowing large sums of money from the regulatory target, and illegally investing in and holding stakes in enterprises. He illegally accepted a huge amount of property.