Enforcement

CSRC Penalises CICC Over Sponsor Due Diligence Failures

02/11/2024

CICC was fined for failure to perform due diligence as the IPO sponsor of S2C Limited, which was found to have inflated its financial results.

Enforcement

Former Dealer Jailed for Manipulating Singapore-listed Stocks

02/11/2024

The former dealer spoof the market 215 times between August 2020 and March 2021, resulting in over SGD 250,000 in illicit gains.

Enforcement

FSS Probing Mirae Asset Securities in Korea Zinc Case

02/11/2024

Mirae was involved in Korea Zinc’s recent share buyback and is also the underwriter of rights issue that was announced shortly afterwards.

OJK Issues New Regulation on Bank Financial Reporting

01/11/2024

Banks have 3 months to implement financial reporting controls and 6 months to assign responsibility for preventing fraud or manipulation in financial reports.

US Publishes First Ever National Strategy on Financial Inclusion

01/11/2024

The strategy calls on FIs to help consumers open transaction accounts, expand credit access for underserved communities, and help consumers build retirement savings.

Sanctions

US Targets Almost 400 Entities in Latest Russia Sanctions Package

01/11/2024

The action targets individuals and entities across 17 jurisdictions, including India, China, Switzerland, Malaysia, Thailand, Singapore, and the UK.

US, Taiwan to Start Negotiating Agreement to Address Double Taxation

01/11/2024

Currently, Taiwanese businesses and individuals are taxed on their income by both the US and Taiwanese governments.

Enforcement

South Korea Charges BNP Paribas for Naked Short Selling – Report

01/11/2024

BNP Paribas and Australian hedge fund Regal Funds Management have reportedly been indicted for violating Korea’s short-selling rules.

Enforcement

APRA Imposes Capital Charge on Pacific International Insurance

01/11/2024

APRA said it found oversight and control deficiencies in the insurer’s binder holder business and risk management framework.