Financial authorities have imposed a penalty on a major bank's branch in Shanghai for significant lapses in staff conduct oversight.

The Shanghai office of the National Financial Regulatory Administration has issued an administrative penalty, fining the Pudong branch of Bank Of Communications Co.,Ltd. 300,000 yuan. The penalty was levied due to the branch's serious violation of prudential operational rules concerning employee behavior management.

In a related disciplinary action, Huang Jun, who served as a corporate account manager at the Bank Of Communications Co.,Ltd. Pudong branch at the time of the infractions, has been barred from working in the banking industry for a period of ten years. This sanction was also issued for severe breaches of prudential rules related to staff conduct management.