Standard Chartered Fined $300 Million by US Financial Watchdog

21/08/2014

Standard Chartered will pay $300m over lapses in anti-money-laundering procedures and temporarily suspend its dollar clearing operations with high-risk clients in Hong Kong, the New York State Department of Financial Services (DFS) said.

Indian Large Banks Trim Exposure in Singapore

20/08/2014

India’s large banks are reducing their exposure in Singapore amid tightened regulation and oversight by the Monetary Authority of Singapore of foreign banks.

Sanctions

Leveraging Technology for Compliance and Performance

19/08/2014

Accuity CEO Hugh Jones describes how advanced systems are revolutionising banks’ ability to meet regulations.

PwC Fined $25 Million for Altering Probe Report on Japanese Bank

18/08/2014

New York state has fined PricewaterhouseCoopers $25m and suspended some consulting work for two years after it altered a report to regulators on sanctions and money-laundering controls for Bank of Tokyo-Mitsubishi UFJ Ltd.

Securities / Derivatives

Indonesia Plans to Sell Bank Stakes in Financial Reform

18/08/2014

Indonesia may consider selling public stakes in banks and imposing lending quotas as part of plans to introduce reforms in the financial sector.

Agricultural Bank, BOC to Issue Preferred Shares Worth Up to US$29 Billion

18/08/2014

Agricultural Bank of China and Bank of China plans to raise up to US$29 billion by issuing preferred stocks in a sector-wide push to meet international capital-adequacy requirements.

Australian Banks Face Class Actions on Fees

18/08/2014

Australian banks are facing open class actions filed by legal firm Maurice Blackburn over late credit card fees worth hundreds of millions of dollars, in what could be one of the country’s biggest class suits ever.

Macquarie to Contact Thousands of Clients Over Poor Advice

15/08/2014

The Australian Securities and Investments Commission has ordered Macquarie Group to contact 160,000 clients who may have lost money due to flawed financial advice.

India Tightens Regulatory Noose on Fraudsters

12/08/2014

Parliament has cleared a key bill to allow the Securities and Exchange Board of India to act against ponzi schemes and market manipulators more effectively with powers for search and seizure, attachment of assets, arrest of defaulters and access to call data records.