Enforcement

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    Enforcement

    Korea FSS Considers New Rules to Prevent Mis-selling

    By Editors | 25/07/2024

    Measures being considered would require banks to separate their sales channels for high-risk products from deposits and installment savings counters.

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    Enforcement

    China Establishes Anti-Corruption Body for Financial Sector

    By Editors | 25/07/2024

    The CCDI announced the establishment of a dedicated disciplinary body to tackle corruption in the financial sector.

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    Enforcement

    MAS Cancels Insurance Broker’s Registration for Regulatory Breaches

    By Nithya Subramanian | 25/07/2024

    Acesynergy Brokers failed to comply with applicable regulatory requirements, registration conditions, and written directions from MAS.

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    Enforcement

    Kakao’s Billionaire Founder Arrested in South Korea

    By Editors | 24/07/2024

    Kim Beom-su was arrested on allegations that he played a role in manipulating the stock price of K-pop agency SM Entertainment last year.

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    Enforcement

    ASIC Charges Four in Telegram ‘Pump and Dump’ Case

    By Sanday Chongo Kabange | 24/07/2024

    Four individuals coordinated to select penny stock targets and announced those targets in a public Telegram group named the ‘ASX Pump and Dump Group’.

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    Sanctions

    Hong Kong Has Become a Sanctions Evasion Hub: Report

    By Manesh Samtani | 24/07/2024

    New report says Hong Kong has emerged as a “global centre for illicit finance and trade” and the city’s banks should be sanctioned.

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    AML / KYC

    US Authorities Recover Another $85m in 1MDB Case

    By Nithya Subramanian | 24/07/2024

    The DOJ secured the recovery of a Swiss financial account along with diamond jewellery and artwork worth a combined $85mn.

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    Enforcement

    Hong Kong Court Jails Three in Landmark Manipulation Case

    By Sanday Chongo Kabange | 23/07/2024

    The jail sentences are the heaviest and longest imposed for market manipulation since the SFO came into effect in 2003.

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    Capital / Liquidity

    APRA Requires OnePath Custodians to Pay A$10.7m

    By Sanday Chongo Kabange | 23/07/2024

    Deputy Chair Margaret Cole said APRA’s patience for entities who are still struggling with foundational issues has “run out”.

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    Enforcement

    SC Malaysia Warns of Investment Scams Involving Deepfakes

    By Nithya Subramanian | 23/07/2024

    The regulator has asked the public to be vigilant in evaluating investment offers, and not transfer money into suspicious accounts.

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