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Securities / Derivatives
China Targets Investment Banking Controls at Securities Firms
By Editors | 04/12/2022
CSRC penalises multiple securities firms. New evaluation system will lead to more intense supervision of firms with lower-quality investment banking practices.
AML / KYC
UK Sanctions 22 Russian Officials for Conscription Efforts
By Editors | 04/12/2022
The sanctions target officials who have promoted and enforced the conscription of citizens to fight in Russia’s “illegal war in Ukraine”.
AML / KYC
FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees
By Editors | 03/12/2022
Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.
Enforcement
US Financial Firms to Spend $18bn on Surveillance Tech This Year
By Editors | 03/12/2022
The increased spending comes after multiple financial firms were fined for failing to monitor and keep records on employees’ communications via messaging apps.
AML / KYC
Texas Unseals Charges Against 21 Crypto Money Launderers
By Editors | 02/12/2022
The 21 US citizens charged helped to move proceeds from US fraud victims to foreign criminal organisations using crypto.
Enforcement
Korean Prosecutors Seek More Terra-related Arrest Warrants
By Editors | 01/12/2022
New arrest warrants are sought for co-founder Daniel Shin, as well as Terraform Labs investors and engineers.
Enforcement
CSRC Proposes to Double Maximum Reward for Whistleblowers
By Editors | 01/12/2022
The CSRC also proposes to enable whistleblower reports to be submitted through its 12386 service platform.
AML / KYC
AUSTRAC Commences Court Proceedings Against Star Casinos
By Manesh Samtani | 01/12/2022
Star Sydney and Star Queensland breached one section of the law 1,189 and 325 times, respectively. Both are accused of “an innumerable number” of other breaches.
Enforcement
Australian Court Dismisses ASIC Proceedings for CBA Overcharging
By Editors | 30/11/2022
CBA’s terms and conditions acknowledged that sometimes the bank ‘can get things wrong, and when this happens’ it is ‘determined to make them right again’.
AML / KYC
EU to Gain Legal Authority to Punish Sanctions Circumvention
By Editors | 30/11/2022
The move will make it easier for EU authorities to take action against anyone who helps Russia avoid its sanctions.
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