An investor is seen in front of an electronic screen showing stock information (green for losses) at a brokerage house in Hangzhou, Zhejiang Province, China. Photo: China Daily via Reuters

Mainland Chinese A-shares saw their biggest loss of the year Monday, with the Shanghai Composite falling as far as 1.9%, before closing down 1.4%, reports Seeking Alpha.

The decline Monday came after an announcement late on Friday that the country’s banking regulator will strengthen a crackdown on irregularities in the financial sector.

Earlier this month, China’s top anti-graft body announced it had launched an investigation into the nation’s chief insurance regulator, Xiang Junbo.