ENFORCEMENT

Enforcement

SAFE Issues Guidance on Penalties for Forex Rule Violations

By Darien Choong | 11/11/2021

Directors and senior managers of financial institutions that deliberately violate the regulations can be fined between CNY 50,000 and CNY 500,000.

Enforcement

US Treasury Announces New Ransomware-related Sanctions

By Manesh Samtani | 09/11/2021

The US Treasury Department, OFAC, State Department, DOJ, and FinCEN have taken coordinated action to counter the ransomware threat.

Enforcement

NZ FMA Expects Proactive Self-reporting of Misconduct Issues

By Editors | 08/11/2021

The minimum expectation for good conduct risk management is for firms to self-report potential breaches to the FMA, said acting general counsel Karen Chang.

AML / KYC

CCDI Draws Lessons on Corruption from Ex-ICBC Bankers

By Darien Choong | 08/11/2021

The two ex-bankers have relaxed risk controls and used customised rules to facilitate loan approvals for certain borrowers in exchange for bribes.

Enforcement

Prosecutors Abandon Criminal Cartel Case Against ANZ

By Editors | 07/11/2021

Prosecutors have decided to abandon the case against ANZ after being asked to refile their indictment a third time. The cases against Deutsche Bank and Citi will proceed.

AML / KYC

CCDI Official Offers Glimpse of PBOC-linked Corruption Cases

By Darien Choong | 07/11/2021

Financial corruption and financial risks are intertwined, said senior inspector Xu Jiaai, speaking about corruption cases involving PBOC officials.

Enforcement

FCA Bans Ex-Barclays Banker for Life Over EURIBOR Rigging

By Editors | 07/11/2021

The decision comes after the former banker lost an attempt to overturn his 2019 conviction and sentencing to five years in prison.

Enforcement

SMBC Nikko Securities Under Market Manipulation Probe – Report

By Ranamita Chakraborty | 04/11/2021

Employees are said to have traded several stocks to support their prices to ensure the completion of block deals conducted after market hours.

Enforcement

SFC Fines Fulbright Securities Over Internal Control Failures

By Editors | 02/11/2021

Fulbright Securities breached regulatory requirements when processing placement subscription applications for a Hong Kong-listed company in August 2018.