ENFORCEMENT

Enforcement

NZ FMA Censures Derivatives Issuer Over Suitability Checks

By Editors | 05/03/2022

CTRL Investments allowed investors who could not demonstrate the necessary skills and knowledge to trade derivatives.

Enforcement

China CCDI Rebukes Financial Regulators Following Inspections

By Darien Choong | 05/03/2022

Following inspections that began last October, financial regulators and state owned institutions have been directed to rectify problems identified.

AML / KYC

DOJ Launches New Task Force Targeting Russian Oligarchs

By Editors | 04/03/2022

Task Force KleptoCapture will use “the most cutting-edge investigative techniques” to identify sanctions evasion and related criminal misconduct by Russian oligarchs.

Enforcement

Korean Broker and Bank Penalised Over Optimus Mis-selling

By Editors | 04/03/2022

NH Investment & Securities cannot sell new private equity funds for three months. Hana Bank cannot be appointed as a fund trustee for three months.

AML / KYC

1MDB: Ex-BNM Governor’s Husband Embroiled in Police Probe

By Sanday Chongo Kabange | 04/03/2022

The police, rather than the anti-corruption commission, are investigating Datuk Tawfiq Ayman and his alleged involvement in 1MDB.

Enforcement

SFC, HKEX Fine HSBC Securities for Regulatory Breaches

By Editors | 04/03/2022

The firm made errors when assigning BCANs to clients. It also oversold China securities due to deficiencies in its order management and algorithmic trading systems.

Enforcement

ASIC Consults on When to Convene FSCP Sitting Panels

By Ranamita Chakraborty | 03/03/2022

ASIC proposes that it will generally convene an FSCP sitting panel when misconduct is widespread or part of a growing trend, or where doing so can have deterrence benefits.

Enforcement

SFC Permanently Bans Ex-HSBC Employee Over Bribery Convictions

By Editors | 02/03/2022

The former vice president accepted gifts as inducements to handle credit applications and maintain the credit facilities for two companies controlled by a client.

AML / KYC

China Supreme Court Makes Crypto Fundraising a Criminal Offence

By Editors | 02/03/2022

Fundraising that exceeds CNY 50 million, or losses involving at CNY 25 million or 5,000 people, could result in more than 10 years in prison.