Fraud, Scams & Cybercrime

Singapore Banker Faces 94 Charges for S$1.9m Fraud

08/10/2019

The former banker allegedly told his victims their funds would be placed as fixed deposits or in financial products, resulting in client losses over S$1.9mn.

Structural Regulation

HKEX Abandons Pursuit of London Stock Exchange Merger

08/10/2019

HKEX says the merger is still strategically compelling but it has not been able to engage with LSEG’s management in realising its vision.

Anti-Money Laundering

India Establishes High Level Panel on AML/CFT

08/10/2019

The inter-ministerial committee comprises senior officials from government departments, ministries, law enforcement agencies and regulatory bodies, including the RBI, SEBI and IRDAI.

Anti-Money Laundering

Thailand Cabinet Approves Draft AML Regulations

08/10/2019

Under the rules, financial institutions will be required to obtain additional source of funds information from customers for cross-border transfers exceeding 50,000 baht.

Conduct, Culture & Accountability

Korea FSS to Inspect Shinhan Governance This Month

08/10/2019

The FSS is reportedly looking into Shinhan’s governance structure ahead of the end of its current chairman’s term in March 2020.

Market Abuse

Two Singaporeans Jailed for Spoofing Derivatives Market

08/10/2019

Two former directors of proprietary trading company Joerik Financial were jailed for fraud and dishonest conduct in relation to the trading of futures contracts.

Cryptocurrency

Korean Court Orders CoinOne to Compensate Hacked Client

07/10/2019

South Korean crypto exchange CoinOne has been ordered to repay a client after a hacker who stole his login information was able to withdraw 25mn won over the withdrawal limit.

Tokenisation

Japan Brokers Form New Body to Develop Rules for STOs

07/10/2019

The new association was formed by securities firms SBI, Nomura, Daiwa, Kabu.com, Monex and Rakuten and will seek FSA approval for status as a self-regulatory organisation.

Anti-Bribery & Corruption

China Antigraft Agency Concludes Probe into Former CSRC Chief

07/10/2019

Liu Shiyu has been removed from his government post and had his illegal gains confiscated, but he will remain a member of the CCP due to his cooperation in the probe.