The Chinese regime has imposed a sweeping restructuring on Jack Ma’s Ant Group, the fintech group whose record $37 billion IPO was derailed by regulators in November, underscoring Beijing’s determination to rein in its internet giants. The overhaul, which has been in the works for several months, includes Ant turning into a financial holding firm, a move expected to curb its profitability and valuation. It comes two days after e-commerce giant Alibaba Group Holding Ltd, of which Ant is an affiliate, was hit with a record $2.75 billion antitrust penalty as Beijing tightens controls on the “platform economy.” The restructuring, directed by China’s central bank, means Ant will be subject to tougher regulatory oversight and capital requirements, likely cutting its valuation from the tech-style pricing of $315 billion it had secured in the run-up to last year’s foiled IPO. However, the measures don’t call for the breakup of Ant, whose …