ENFORCEMENT

Enforcement

SFC Issues New Alert on Suspicious Real Estate Investment Products

By Sanday Chongo Kabange | 10/01/2024

The SFC has warned the public to be wary of Kaplink 006 Limited and Kaplink 007 Limited, involving real property development projects in Australia.

AML / KYC

SFC Sanctions Responsible Officer Over Licensee AML Compliance Failures

By Sanday Chongo Kabange | 10/01/2024

The SFC suspended Andy Wong Yeung for 10 months over his role in City International Futures’ AML compliance failures.

Enforcement

China to Prosecute Former Everbright Group Chairman

By Editors | 09/01/2024

Tang Shuangning became the second former chairman of China Everbright Group to be dismissed from the CCP in recent months.

Enforcement

Korea FSS Widens Probe into Sales of High Risk Derivatives

By Manesh Samtani | 09/01/2024

The FSS found that some firms incentivised sales of high-risk and complex ELS products through internal policies and KPIs.

Enforcement

Taiwan’s Shin Kong Bank Fined Over Misappropriated Client Funds

By Editors | 04/01/2024

The FSC said the bank failed to establish internal controls and prevent the misappropriation of client funds by a former wealth manager.

Crypto / Digital Assets

US Prosecutors Will Not Pursue Second Trial for FTX Founder

By Nithya Subramanian | 02/01/2024

The DOJ said a second trial to address additional charges against Sam Bankman-Fried would delay sentencing and provide no benefit to victims.

Enforcement

FSS Korea Fines BNK Kyongnam Bank for Employee Misconduct

By Sanday Chongo Kabange | 02/01/2024

Former branch manager opened a securities account using his mother-in-law’s name and forged signature, and used it to place 193 stock trades.

Enforcement

China Passes Law to Raise Penalties for Bribery Offences

By Editors | 29/12/2023

The amended law, effective 1 March 2024, adds provisions to punish corruption crimes committed by insiders of private enterprises.

Enforcement

China: Former Banking Regulator Sentenced to Life in Prison

By Editors | 29/12/2023

Cai Esheng took more than CNY 407 million in bribes before he retired in 2013, and a further CNY 110 million afterwards.