Enforcement

Enforcement

Former China Merchants Bank President Sentenced to Life in Prison

By Editors | 07/02/2024

Other former senior executives of Qianhe Capital Management, ICBC, Taiping Life Insurance, and Bank of Communications also facing criminal charges.

Enforcement

SFC Bans Two Licensed Reps Over Bribery Convictions

By Sanday Chongo Kabange | 07/02/2024

The SFC barred two former representatives of Nerico Brothers, considering them “not fit and proper” to be licensed.

Crypto / Digital Assets

Korean Authorities Arrest Three Over Alleged Crypto Fraud

By Sanday Chongo Kabange | 07/02/2024

Three executives of crypto platform Haru Invest were arrested for failing to return KRW 1.1 trillion worth of crypto to investors.

Enforcement

FSS Korea Warns of Stern Measures for Financial Misconduct

By Mark Johnston | 07/02/2024

FSS Korea warns of stern repercussions for misconduct by financial firms, excessive risk-taking, and high fees and interest rates.

Enforcement

US SEC Settles Charges Against China-Based Firm With No Penalty

By Sanday Chongo Kabange | 07/02/2024

The firm self-reported its violations, provided “substantial cooperation” to SEC staff, and undertook prompt remedial measures.

Enforcement

Hong Kong: Ex-Stanchart Banker Jailed Over Insurance Fraud

By Sanday Chongo Kabange | 06/02/2024

A former Standard Chartered Bank insurance specialist has been jailed for 20 months for premeditating a scam involving two clients and breaching the trust placed in him.

Enforcement

SFC Fines PICC Asset Management for Fund Management Failures

By Sanday Chongo Kabange | 06/02/2024

The SFC penalised PICC Asset Management for failing to discharge duties as the manager of a Cayman-incorporated fund.

ESG / Sustainability

UK Environment Agency Launches Economic Crime Unit

By Editors | 06/02/2024

The unit will boost the Environment Agency’s efforts to tackle money laundering and carry out financial investigations in the waste sector.

Enforcement

Korea: FSS Probe Confirms Mis-selling of HSCEI-Linked ELS

By Manesh Samtani | 06/02/2024

High-risk equity-linked securities were sold to customers who prioritised principal protection, were close to retirement, and those planning for future cancer treatments.