ENFORCEMENT

Enforcement

China Faces Protests in Henan Over Suspected Rural Bank Scams

By Editors | 30/05/2022

Bank customers in Henan province are demanding the return of billions of dollars of deposits after finding they were unable to withdraw their funds.

Enforcement

SEBI Raids Brokers in Axis Fund Front-running Probe

By Editors | 29/05/2022

Fund managers of Axis Mutual Fund shared trade information with outside brokers and other entities who traded on the information ahead of Axis funds.

Enforcement

Korea FSS to Extend Woori Bank Embezzlement Probe

By Editors | 29/05/2022

The FSS will seek to understand why Woori’s internal control system failed to detect embezzlement by its employee over ten years.

Securities / Derivatives

SSE Proposes to Increase Transparency of Disciplinary Processes

By Editors | 28/05/2022

The SSE is revising its rules on disciplinary actions, reviews and hearings to enhance transparency, standardisation and efficiency.

Capital / Liquidity

MAS Raises OCBC Capital Requirement for Scam Incident

By Editors | 27/05/2022

OCBC has to apply a 1.3x multiplier to its RWA for operational risk, which translates to additional regulatory capital of S$330mn.

AML / KYC

Glencore to Pay $1.5b to Settle Bribery & Manipulation Probes

By Manesh Samtani | 26/05/2022

The civil and criminal penalties and forfeitures will resolve a decade-long scheme to bribe foreign officials in seven countries and an oil price manipulation conspiracy.

Crypto / Digital Assets

Terra Collapse Sparks Regulatory Change, Lawsuits in Korea

By Mark Johnston | 26/05/2022

The FSC says thirteen relevant bills on digital asset investor protection are currently pending at the National Assembly.

ESG / Sustainability

US SEC Fines BNY Mellon Unit for ESG Misstatements

By Editors | 25/05/2022

BNY Mellon Investment Adviser stated in documents that all investments in its funds had undergone an ESG quality review, but that this was not always the case.

AML / KYC

Seoul Prosecutors Revive Specialised Financial Crime Team

By Editors | 24/05/2022

A joint investigations team that was disbanded in January 2020 has now been reinstated to respond to financial and securities crimes.