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ENFORCEMENT
Fintech / Regtech
HKMA Asks Banks to Participate in New Data Sharing Initiative
By Editors | 15/08/2023
The Interbank Account Data Sharing Initiative will enable banks to share bank account data with other banks, subject to customer consent.
AML / KYC
Ex-FBI Agent Admits He Worked for Sanctioned Russian Oligarch
By Editors | 15/08/2023
Charles McGonigal, one of the highest-ranking FBI agents to ever face criminal charges, entered a guilty plea on Tuesday in New York.
AML / KYC
HKMA Fines EFG Bank Over AML Control Deficiencies
By Editors | 15/08/2023
The bank failed to complete identity verification for customers that were transferred in from another FI and had other issues related to CDD and ongoing monitoring.
Crypto / Digital Assets
US Prosecutors File Amended Indictment Against Sam Bankman-Fried
By Editors | 15/08/2023
The new indictment drops a campaign finance charge but includes an illegal campaign finance scheme as part of original fraud and money laundering charges.
Enforcement
UBS Settles RMBS-related Misconduct Lawsuit for Over $1.4b
By Editors | 15/08/2023
The settlement brings the total amount of civil penalties paid by firms for failed RMBS leading up to the 2008 financial crisis to over USD 36 billion.
Enforcement
Taiwan FSC Fines CTBC Units for Governance Failures
By Editors | 14/08/2023
CTBC Financial was regularly inviting a major shareholder to attend group meetings and executive dinners, though he was not an authorised person.
Enforcement
Korea: Bank CEOs to Face Possible Liability for Internal Control Lapses
By Editors | 14/08/2023
The FSC is working directly with lawmakers to fast-track a bill that would allow it to punish bank CEOs for embezzlement and other crimes that occur under their watch.
Enforcement
FSS Korea Probes Daegu Bank for Unauthorised Account Opening
By Mark Johnston | 14/08/2023
South Korea’s FSS has launched an emergency inspection on Daegu Bank over suspected unauthorised securities account opening.
Enforcement
SFC, CSRC Agree to Allow Block Trading on Stock Connect
By Editors | 14/08/2023
Block trading will enhance price discovery and encourage more overseas investors to participate in the A-share market through Stock Connect, said the SFC’s Julia Leung.
Crypto / Digital Assets
US Judge Revokes Bankman-Fried Bail for Witness Tampering
By Editors | 13/08/2023
Sam Bankman-Fried gave documents to journalists and tried to interfere with witnesses. He was taken to jail on Friday.
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