ENFORCEMENT

AML / KYC

Hong Kong Sees Spike in Investment Scam Losses – Report

By Editors | 29/09/2021

Victims lost HKD 2.5 billion from investment scams between January and July, a 20-fold increase compared to the same period last year.

Enforcement

Ex-CBIRC Official Took Bribes During Baoshang Takeover – Report

By Editors | 29/09/2021

Li Guorong is accused of taking bribes from entrepreneurs while serving as deputy head of a team appointed to take over Baoshang Bank.

Enforcement

Shenzhen Regulator Launches Probe into Evergrande Wealth

By Editors | 29/09/2021

The Shenzhen Financial Regulatory Bureau said a “thorough investigation” into Evergrande Wealth has been launched following investor demands for an inquiry.

Enforcement

Enforcement Should Drive Good Conduct, says HKEX’s Jon Witts

By Manesh Samtani | 28/09/2021

HKEX’s approach to enforcement is designed to drive better conduct, governance and compliance culture, says Head of Listing Enforcement Jon Witts.

AML / KYC

US DOJ Agrees to Release of Huawei’s Meng Wanzhou

By Editors | 27/09/2021

Under a deferred prosecution agreement, Meng admitted to making material misrepresentations to HSBC regarding Huawei’s operations in Iran.

AML / KYC

China Targets Corruption with New Supervision Law

By Sanday Chongo Kabange | 25/09/2021

Supervisors are asked to crack down on the use of offshore companies and underground banks to transfer illegal income and property involved in duty-related crimes.

Crypto / Digital Assets

PBOC Intensifies Crackdown on Cryptocurrency Activity

By Editors | 25/09/2021

Services for virtual currency transactions are deemed illegal, including those provided to Chinese residents by overseas crypto exchanges.

Enforcement

China: Ex-Citic Group Executive Gets 18 years Jail for Bribes

By Editors | 24/09/2021

Zhao Jingwen was sentenced to 18 years in prison and fined CNY 3.2 million for embezzlement and receiving CNY 5.5 million in bribes.

Enforcement

ASIC Warns of Social Media ‘Pump and Dump’ Campaigns

By Editors | 23/09/2021

ASIC calls on market participants and listed companies to be on the lookout for and report suspected ‘pump and dump’ activity in listed securities.