The financial industry regulator of China has asked one of the largest lenders in the country, Bank of China, to investigate problems of its structured products linked to oil benchmarks that burnt many Chinese investors in last week’s market carnage. China Banking and Insurance Regulatory Commission (CBIRC) told Reuters on Thursday that it had asked Bank of China to look into its crude futures-linked product. The regulator has also called on banks to carefully assess risk when offering and structuring products linked to crude oil price swings, CBIRC told Reuters. The commission has also told banks to suspend new sales of wealth management products that can amass unlimited losses for the investor. The consequences of last week’s negative WTI Crude prices went far and wide, burning even retail Chinese investors who aren’t allowed to invest in the international crude oil futures markets directly. Chinese retail investors cannot directly trade […]