Market Data & Technology

SEBI to Promote Greater Access to Securities Market Data

21/10/2020

The committee will identify gaps in the public availability of securities market data and recommend regulations to promote transparency, access and useability of such data.

Fraud, Scams & Cybercrime

Korean Regulators to Revoke Lime Asset Management Licence

20/10/2020

Subject to FSC approval, the FSS will revoke Lime’s business registration and order the company to dismiss its CEO, who was arrested in July.

Supervision & Enforcement

CBIRC Issues Raft of Penalties Over Illegal Loans at Banks

20/10/2020

China Construction Bank was fined, while senior executives and responsible personnel at Shanghai Pudong Development Bank and Guangfa Bank were punished individually.

Conduct, Culture & Accountability

MAS, IBF Take Steps to Prevent Financial Sector Job Losses

20/10/2020

IBF will run surveys every six months to obtain data about job losses at FIs to offer their staff reskilling support and possible redeployments in the industry.

Fraud, Scams & Cybercrime

Japan FSA to Mandate Stricter ID Checks for E-payments

20/10/2020

The FSA plans to revise its guidelines for bank transfers to e-payment service providers in response to a series of fraudulent withdrawals.

Anti-Money Laundering

AUSTRAC Launches AML Investigation into Crown Resorts

20/10/2020

The probe is related to Crown’s use of casino junkets to bring wealthy gamblers to its Melbourne casinos and possible non-compliance with due diligence and AML requirements.

PEPs & Sanctions

OFAC Settles Iran Sanctions Case with Berkshire Hathaway

20/10/2020

A Berkshire subsidiary knowingly exported cutting tools and related inserts to Turkish distributors to then be shipped to a distributor in Iran for resale to Iranian end-users.

Anti-Bribery & Corruption

Goldman US Penalty Over 1MDB to be Announced ‘Within Days’

20/10/2020

Goldman Sachs Group has reportedly reached a more than $2bn settlement with the US DOJ over its role in Malaysia’s 1MDB scandal.

Credit Risk

FSC Korea Unveils New Measures to Lower Borrower Debt Burden

20/10/2020

Lenders will be prohibited from denying loan deferments on non-overdue loans and from activating a trigger clause for events of default when a borrower applies for debt adjustment.