ADVERTISEMENT
Enforcement
AML / KYC
Four Arrested in HK for Diamond-based Money Laundering Scheme
By Manesh Samtani | 28/12/2023
Hong Kong companies traded synthetic diamonds with a company in India but declared them as natural diamonds as a way to launder money.
Enforcement
Chinese Court Jails Ex-Chairman of New China Life Insurance
By Editors | 28/12/2023
Wan Feng exploited his official position and accepted bribes worth more than CNY 12 million between 1997 and 2018.
Enforcement
SFC Suspends Former Licensed Rep Over Misuse of Client Account
By Editors | 28/12/2023
The former AE carried out personal trades in a client’s securities account and allowed a third party to operate the account without the client’s written authorisation.
Crypto / Digital Assets
Chinese Authorities Dismantle $2.2b Underground Banking Operation
By Editors | 27/12/2023
The operation involved the use of overseas crypto platforms to exchange foreign currency. 74 suspects were arrested and their electronic devices and bank cards seized.
Enforcement
China Launches Probe into CDB for Suspected Price Manipulation
By Editors | 27/12/2023
NAFMII said it has information indicating China Development Bank improperly influenced market prices in its bond issuance and money market businesses.
Enforcement
FSA Japan Issues Orders Against Major Insurers for Price-Fixing
By Editors | 27/12/2023
The insurers coordinated with each other when negotiating contracts with corporate customers on insurance premiums, affecting more than 570 policyholders.
AML / KYC
Wirecard Investors File Lawsuit Against EY in Munich
By Nithya Subramanian | 27/12/2023
The group of investors alleged that EY did not ensure accuracy of accounts and claimed EURO 700 million as damages.
Enforcement
India Competition Commission Proposes New Penalty Computation Rules
By Ajoy K Das | 27/12/2023
The CCI says indirect taxes, trade discounts and intra-group sales will be excluded from turnover when calculating penalties for competition law violations.
Enforcement
Korea Fines BNP Paribas, HSBC $20.4m for Illegal Short Selling
By Editors | 26/12/2023
The FSC said the naked short-selling transactions lasted for months and were thus were “viewed as not inadvertent but intentional.”
Enforcement
Singapore Announces Criminal Charges Over DPRK Gasoil Sales
By Editors | 26/12/2023
Defendants are accused of shipping gasoil to North Korea in violation of UN sanctions via the MT Courageous, an oil tanker seized by the US in 2021.
JOIN OUR NEWSLETTER
A daily selection of top stories from the Regulation Asia editorial team