Enforcement

Enforcement

China to Increase Penalties for Breaches of Cybersecurity Law

By Darien Choong | 24/09/2022

Operators of critical information infrastructure using products or services that have not undergone security evaluations will face fines of up to 5 percent of annual revenue.

Enforcement

China to Strengthen Cross-Agency Collaboration on Capital Market Crime

By Editors | 24/09/2022

Regulatory, law enforcement and prosecutorial agencies will cooperate to “treat both the symptoms and the root causes” that contribute to capital market crime.

Enforcement

New York AG Files Fraud Charges Against Trump & Family

By Editors | 22/09/2022

The lawsuit says Trump falsified his net worth to obtain more favourable loan terms, cheaper insurance coverage, and tax benefits.

Enforcement

China: Another Senior Executive Probed for Chip Fund Fraud

By Editors | 22/09/2022

Another senior investment manager of Sino IC Capital is being probed for fraud involving China’s biggest investment fund for the chip sector.

Enforcement

Australia Court Orders Retrial of Banned Mayfair 101 Director

By Editors | 21/09/2022

ASIC put a “legally incorrect case” and the primary judge made orders “based on a legally correct case not put”, the court said.

Securities / Derivatives

HK Police, FRC Sign MoU on Combatting Commercial Crime

By Editors | 21/09/2022

Collaboration is needed to protect the public interest and maintain financial market integrity, said FRC chairman Kelvin Wong.

Enforcement

Bank of East Asia Exec Detained in China for Taking Bribes

By Editors | 19/09/2022

The executive is accused of breaching credit rules and issuing loans in exchange for bribes. It is uncommon for executives of overseas banks to be detained in China.

AML / KYC

US Unveils Comprehensive Plans for Regulating Digital Assets

By Manesh Samtani | 18/09/2022

Reports released by the White House, Treasury, Commerce and DOJ will help ensure a coordinated and comprehensive approach to digital assets policy.

AML / KYC

Puerto Rico Authority Agrees on Liquidation of Euro Pacific Bank

By Editors | 17/09/2022

Euro Pacific Bank customers will recoup 100 percent of their deposits. Several hundred investigations are still underway globally over whether the bank was used for tax evasion.