AML / KYC

China Deepens Financial Sector Corruption Crackdown

05/04/2023

Officials told bankers they should learn lessons from Bank of China chairman Liu Liange, who was recently placed under investigation.

Securities / Derivatives

Evergrande Enters Debt Restructuring Agreement With Key Creditors

04/04/2023

Evergrande said the key group of creditors entered into restructuring support agreements. Its debt restructuring plan could take effect later this year.

Enforcement

Germany Bans EY for Two Years Over Wirecard Audits

04/04/2023

Germany’s auditor regulator also fined the company €500,000, and five of its current and former auditors between €23,000 and €300,000.

Enforcement

SEBI Probing Related Party Transactions at Adani Group

04/04/2023

SEBI is probing three offshore entities which entered into investment transactions with unlisted Adani Group units over the last 13 years.

Securities / Derivatives

Korea Finalises Reforms to Introduce Mandatory English Disclosures

04/04/2023

KOSPI-listed firms with KRW 10 trillion in assets will be required to disclose material information in English from 2024. Firms with KRW 2 trillion in assets must do the same from 2026.

Capital / Liquidity

Korea Propose Measures to Address Risks in Mutual Finance Sector

04/04/2023

Regulators proposed to raise the loan loss reserve requirement for lending to real estate and construction firms to boost loss-absorbing capacity.

AML / KYC

Australia Introduces AML/CTF Amendment Bill to Parliament

04/04/2023

The amendments will strengthen and modernise aspects of Australia’s AML/CTF regime, and assist AUSTRAC in fulfilling its functions.

ACCC Undecided About Authorising ANZ-Suncorp Merger

04/04/2023

The ACCC is calling for further submissions from industry and consumers on how the proposed acquisition may impact competition.

Enforcement

US SEC Fines Merrill Lynch for FX Fee Disclosure Failures

04/04/2023

Merrill Lynch agreed to pay disgorgement, prejudgment interest, and a civil penalty totaling more than $9.5mn and to distribute funds to harmed clients.