ENFORCEMENT

Enforcement

Japan FSA Orders Mizuho to Undergo Structural Reforms

By Editors | 29/11/2021

Mizuho is directed to formulate plans to improve its governance and prevent more system failures from occurring. Three top executives will resign.

Enforcement

HK ICAC Charges Four for Concealing Backdoor Listing

By Editors | 28/11/2021

A retired lawmaker and his son concealed an agreement with a third party who agreed to pay them about HK$210mn for control of a listed stock.

Enforcement

Hong Kong FRC to Increase Public Disclosures on Investigations

By Editors | 28/11/2021

The Financial Reporting Council will increasingly disclose its investigations when cases involve high public interest.

Enforcement

ASIC Sues ANZ Over Home Loan Introducer Programme

By Editors | 27/11/2021

ASIC says ANZ breached credit laws by accepting customer information and documents from unlicensed individuals, some of which was fraudulent.

Enforcement

China Cracks Down on Online ‘Influencers’ for Tax Evasion

By Darien Choong | 27/11/2021

Fines against two influencers comes as China cracks down the entertainment and livestreaming industries, including in the securities sector.

Crypto / Digital Assets

FSC Korea Seeks to Criminalise Crypto Market Manipulation

By Editors | 26/11/2021

Those who obtain unfair profits from crypto trading would face at least one year in prison and at least three times the amount gained in fines.

Enforcement

CBIRC Orders Banks to Strengthen Risk Controls

By Darien Choong | 25/11/2021

Insufficient assessment of potential business risks and a lack of core management systems and control measures have surfaced, the CBIRC said.

Enforcement

FSC Korea Cancels Business Licence of Optimus Asset Management

By Sanday Chongo Kabange | 25/11/2021

The FSC has also fined Optimus and ordered board member removals, over “numerous counts of violations and inappropriate fund management activities”.

Enforcement

MAS Considers ‘Appropriate Supervisory Actions’ After DBS Outage

By Mark Johnston | 24/11/2021

MAS considering “appropriate supervisory actions” following two days of digital services disruption at DBS Bank.