China Detains Senior Bankers, Seizes Passports in Anti-Corruption Sweep

China has intensified its crackdown on the investment banking sector, detaining at least three top executives since August. The Chinese authorities are also seizing passports of dealmakers as part of a broader anti-corruption sweep. Several investment firms are involved in this move, which has raised concerns over the $1.7 trillion brokerage industry, sending a chill through the investment community. The crackdown is seen as part of President Xi Jinping's efforts to tighten control over the financial sector.