Capital / Liquidity

Single Branch of Chinese Bank Fined $72mn for Hiding Bad Loans

24/01/2018

Branch of Shanghai Pudong Development Bank admits fault for issuing more than more than $12bn to over 1,400 shell companies.

Enforcement

Singaporean Jailed for 4 Months for ‘False Trading’

24/01/2018

Mok Piak Liang convicted of manipulating share price to push up value of stock pledged to margin account and avoid having to top-up account by other means.

Enforcement

HKEX Issues Northbound Stock Connect Market Misconduct Guidelines

22/01/2018

Information pack shows only one divergence between what is considered misconduct in mainland China versus Hong Kong.

Enforcement

Thailand Implements New Market Misconduct Penalty Scheme for Banks

20/01/2018

New market conduct rules to be implemented over next few weeks; Violators can be barred from operating or fined up to 1mn baht per day.

Enforcement

HK’s Financial Reporting Council to be Given Extended Powers

20/01/2018

Treasury for Financial Services and the Treasury says FRC to given independent oversight, inspection and disciplinary powers.

AML / KYC

US Fed Fines Taiwanese Bank $29mn for AML Failures

19/01/2018

US Federal Reserve Board cites deficiencies in Mega Bank’s operations, risk management and compliance controls in relation to AML and bank secrecy laws.

Vietnamese Banks Warned Against High-Risk Lending

19/01/2018

Central bank warning comes as prime minister asks for increased inspection and supervision over banks.

AML / KYC

Hong Kong SFC Looks to Optimise Enforcement Action

18/01/2018

New guidance removes threat of criminal prosecution in cases of “non-serious” regulatory breaches and cooperation ‘above and beyond’ regulatory obligations.

AML / KYC

Philippines Will Now Report Cross Border Banking Stats to BIS

17/01/2018

BSP has begun reporting international banking statistics from January 2018, having met BIS standards for completeness and quality.