Enforcement

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    Enforcement

    HK Police Arrest Man for Illegal Short Selling, Fraud

    By Editors | 04/06/2023

    The man fabricated trading statements that falsely showed he held shares in four listed companies he short-sold, when in fact he did not, the SFC said.

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    Enforcement

    ASIC Issues First Stop Order on Superannuation Product

    By Sanday Chongo Kabange | 04/06/2023

    The interim stop orders were made against Spaceship Super and three managed funds promoted by Spaceship Capital due to deficient TMDs.

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    Enforcement

    APRA Investigating Super Fund Payments to Unions

    By Editors | 04/06/2023

    APRA chairman John Lonsdale told lawmakers the regulator has an “appetite to take enforcement” where it is needed.

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    Enforcement

    FINRA Fines Vanguard for Misleading Account Statements

    By Mark Johnston | 02/06/2023

    Vanguard had errors in about 8.5 million customer statements and failed to address customer reports of the errors in a timely manner.

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    Enforcement

    MAS Bans Six Former Great Eastern Advisers for Tax Fraud

    By Ranamita Chakraborty | 02/06/2023

    MAS said the six former insurance agents actively participated in a scheme to cheat the Inland Revenue Authority out of S$125,000.

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    Enforcement

    MAS Bans Former StanChart Adviser Following Forgery Conviction

    By Editors | 31/05/2023

    The former representative altered a document to falsely presenting another client as the account holder instead of the actual client.

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    AML / KYC

    Perth Mint Misses AUSTRAC Deadline, CEO Resigns

    By Editors | 31/05/2023

    The delay was attributed to the complexity of the audit and the challenges in gathering the required information.

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    Capital / Liquidity

    APRA, AUSTRAC Enter Enforceable Undertakings With BoQ

    By Editors | 31/05/2023

    For APRA’s enforceable undertaking, Bank of Queensland has to set aside an extra A$50mn in regulatory capital.

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    AML / KYC

    Australia: Crown Agrees to A$450m Penalty for AML Failures

    By Editors | 31/05/2023

    Crown admitted to AML/CTF breaches at its Melbourne and Perth casinos and agreed to pay A$450mn, subject to court approval.

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    Capital / Liquidity

    US OCC Sets Out Policy for Addressing “Persistent Weaknesses” at Banks

    By Editors | 30/05/2023

    The OCC may require banks to increase capital, restrict dividends, sell assets, divest subsidiaries or exit markets if they fail to fix “persistent weaknesses”.

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