In a speech made in Shanghai, he said the system was stifling innovation.
He called for reform of a system which “stifled business innovation” and likened global banking regulations to an “old people’s club”.
His comments angered the Chinese Government which viewed it as an attack on the Communist Party, leading to action being taken against Mr Ma’s business interests.
A week later, the Shanghai Stock Exchange ordered a $37 billion initial public offering of Ant Group, a financial technology firm co-founded by Mr Ma, to be suspended.
source: express.co.uk