ENFORCEMENT

    Enforcement

    CBA Pleads Guilty to Mis-Selling Consumer Credit Insurance

    By Editors | 01/11/2021

    Deputy chair Sarah Court said ASIC pursued a criminal case against CBA after it was clear customers had been sold insurance that they had no use for.

    Enforcement

    HK ICAC Charges Property Agent With Mortgage Loan Fraud

    By Ranamita Chakraborty | 01/11/2021

    The property agent Chiu Ka-wai applied for a mortgage loan with HSBC and falsely represented that the property was for self-occupancy.

    Enforcement

    CBIRC Shanghai Launches Crackdown on Coal Price Speculation

    By Editors | 29/10/2021

    The CBIRC’s Shanghai bureau has banned the use of bank and insurance funds to influence the commodity market, as China faces nationwide power shortages.

    Enforcement

    SFC Bans Former StanChart Licensee for Life

    By Editors | 28/10/2021

    The former licensee failed to disclose to the SFC in licensing applications that he was the subject of a criminal investigation.

    AML / KYC

    Singapore Court Charges Property Agent for Failing to File STR

    By Ranamita Chakraborty | 26/10/2021

    The agent collected a bag of cash for a property purchase. It was later discovered that the purchaser was an undischarged bankrupt and operated illegal gambling dens.

    AML / KYC

    HKMA, SFC Issue FAQ on ‘Offence Related Property’ Under NSL

    By Editors | 25/10/2021

    FIs “must” disclose to the JFIU property held by persons charged for offences under the National Security Law regardless of the portion of shareholdings.

    Enforcement

    CFTC Pays Record-breaking $200m Whistleblower Award

    By Editors | 24/10/2021

    The award is the largest whistleblower payout on record, and for the first time includes an amount based on sanctions collected by a foreign regulator.

    AML / KYC

    US Signals More Balanced Approach to Sanctions Policy

    By Manesh Samtani | 23/10/2021

    The US will move to a sanctions policy that is more clearly linked to policy objectives and reduces harm caused to individuals and businesses.

    Enforcement

    CSRC to Pilot Arbitration System for Capital Market Disputes

    By Darien Choong | 22/10/2021

    Arbitration courts in Beijing, Shanghai and Shenzhen will help to facilitate the resolution of disputes in the securities and futures market.

    Enforcement

    MAS Proposes to Improve Fairness of Appeals Process

    By Manesh Samtani | 21/10/2021

    Proposed changes to the Appeals Regulations would allow appellants to review MAS’ reasons for a decision before filing their petition for appeal.

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