ENFORCEMENT

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    Enforcement

    SFC Bans Ex Employee of OCBC Wing Hang Bank

    By Sanday Chongo Kabange | 13/12/2023

    The employee was earlier convicted for offering a colleague a bribe to refer mortgage refinancing clients to an external party.

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    Enforcement

    China NFRA to Apply More Discretion in Penalty Decisions

    By Editors | 13/12/2023

    The NFRA says it will strictly abide by the principles of legality, proportionality, and due process when handing out penalties to banks and insurers.

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    AML / KYC

    AUSTRAC Announces Regulatory Priorities for 2024

    By Editors | 13/12/2023

    AUSTRAC will scrutinise the banking, gambling and remittance sectors, as well as crypto firms, payment platforms and non-bank lenders.

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    Crypto / Digital Assets

    NYAG Announces $22m Settlement With Crypto Firm KuCoin

    By Editors | 13/12/2023

    KuCoin is required to refund more than USD 16.7 million to New York investors and pay more than USD 5.3 million to the state.

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    Enforcement

    HK’s Market Sounding Rules Could Impact Decision-making Dynamics

    By Nithya Subramanian | 13/12/2023

    Market participants have sought clarity on the definition of non-public information and jurisdiction from Hong Kong’s SFC.

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    AML / KYC

    Korea Seeking Expanded Powers to Freeze Bank Accounts

    By Editors | 13/12/2023

    Authorities can already freeze accounts linked to voice phishing scams. Prosecutors are looking to expand this to target gambling and drug crime.

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    Fintech / Regtech

    Thailand SEC Unveils 2024-2026 Strategic Plan

    By Editors | 12/12/2023

    The plan seeks to boost trust in the capital market, promote the sustainable finance and digital asset ecosystems, and enhance supervisory and enforcement processes.

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    Enforcement

    Australia to Increase Tax Practitioners Board’s Enforcement Powers

    By Sanday Chongo Kabange | 12/12/2023

    New consultations propose to strengthen the Tax Practitioners Board’s sanctions regime and expand its Code of Professional Conduct.

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    Enforcement

    UK to Launch New Unit to Investigate Trade Sanctions Violations

    By Editors | 12/12/2023

    The Office of Trade Sanctions Implementation is expected to begin its civil enforcement activities sometime in early 2024, the UK government says.

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    AML / KYC

    Singapore: Resorts World Sentosa Fined for AML Failures

    By Editors | 11/12/2023

    Resorts World Sentosa did not perform customer due diligence checks and identity verification when receiving cash from third party depositors.

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