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Enforcement
CommSec, AUSIEX Fined A$27m for Market Integrity Rule Breaches
By Editors | 27/10/2022
CommSec and AUSIEX demonstrated “widespread, systemic compliance failures” over a nine-year period, said ASIC deputy chair Sarah Court.
AML / KYC
Hong Kong Customs Arrests Two for Laundering HK$3.5bn
By Editors | 27/10/2022
The money was laundered by reselling precious metals. The case is the largest-ever money laundering case for Hong Kong Customs.
Enforcement
HKEX Issues New Guidance Note, Revises Sanctions Statement
By Sanday Chongo Kabange | 27/10/2022
Parties are expected to cooperate with HKEX during its investigations and disciplinary actions, the new Guidance Note on Cooperation says.
Enforcement
Australian Court Orders ANZ to Pay A$25m Penalty
By Editors | 27/10/2022
ANZ inadvertently failed to provide promised fee and interest rate discounts to customers due to inadequacies within its systems.
Enforcement
German Consumer Group Files Greenwashing Suit Against DWS
By Editors | 26/10/2022
The suit claims that DWS misrepresented a fund’s green credentials in marketing material. A hearing date is set for 10 March.
Enforcement
Australia: Hackers Accessed Data of 4m Customers, Medibank Admits
By Manesh Samtani | 26/10/2022
Medibank does not have cyber insurance, and is expected to face investor class actions, on top of lawsuits from angry customers and likely fines.
Enforcement
US Charges Chinese “Agents” for Obstructing Huawei Probe
By Editors | 26/10/2022
The two defendants are accused of trying to bribe a US official to obtain inside information about the criminal case against Huawei.
ESG / Sustainability
Texas, Arizona Lawsuits Target Big Bank Climate Pledges
By Editors | 26/10/2022
The lawsuits take aim at Goldman Sachs, JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and Morgan Stanley.
Enforcement
US Treasury Issues CFIUS Enforcement and Penalty Guidelines
By Editors | 26/10/2022
The guidelines describe three categories of conduct that may constitute a violation of foreign investment laws and regulations, and how penalties may be imposed.
Crypto / Digital Assets
ASIC Files Suit Over Misleading Claims by Crypto Firm
By Editors | 26/10/2022
ASIC said BPS Financial engaged in unlicensed conduct and made false, misleading or deceptive representations about a crypto token called Qoin.
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