Enforcement

AML / KYC

HK ICAC Charges Two in Bribery Case Involving ICBC Unit

By Editors | 20/12/2023

A shipping consultancy director bribed a former executive of ICBC Financial Leasing to secure a consultancy contract for an iron ore shipping project.

Enforcement

Taiwan: Cathay United Bank Fined Over Misappropriated Client Funds

By Editors | 20/12/2023

Two employees were involved in the misconduct. The bank was fined and is being required to increase its operational risk capital.

Enforcement

SFC Fines Brokerage for Breaching Financial Resources Rules

By Mark Johnston | 19/12/2023

Central Wealth Securities Investment made various accounting and calculation errors in its financial returns and had a liquid capital deficit for eight months.

ESG / Sustainability

ASIC Fines Northern Trust for Alleged Greenwashing

By Sanday Chongo Kabange | 19/12/2023

ASIC said Northern Trust was responsible for its statements, not the third party that incorrectly applied the exclusion screen specified.

Enforcement

Appellate Court Sets Aside SEBI Penalties Against NSE, Officials

By Ajoy K Das | 19/12/2023

The penalties were imposed in June 2022 over the alleged exploitation of NSE’s internet infrastructure by brokers for faster connectivity.

AML / KYC

HKMA Fines SVF Licensee TNG for AML Compliance Failures

By Sanday Chongo Kabange | 19/12/2023

The HKMA said TNG had no audit trail from MLRO reviews and did not take appropriate steps to assess whether STRs should be filed.

Enforcement

Korea FSS Identifies Misconduct by Nine Securities Firms

By Editors | 19/12/2023

The securities firms and up to 30 managers were involved in selling investment assets amongst themselves to shift losses between customer accounts.

Enforcement

EU Leaders Agree on 12th Russia Sanctions Package

By Editors | 18/12/2023

The package includes additional import and export bans and measures to better enforce the oil price cap. Agreement also reached on criminalisation of sanctions violations.

Enforcement

Ex-FBI Agent Jailed for Helping Sanctioned Russian Oligarch

By Editors | 18/12/2023

Former FBI agent Charles McGonigal conspired to violate US sanctions and commit money laundering to help sanctioned Russian oligarch Oleg Deripaska.