ENFORCEMENT

Enforcement

PCAOB Fines KPMG Australia Over Training-related Misconduct

By Editors | 15/09/2021

Cheating in online training tests was found to be widespread within the audit practice. KPMG Australia sanctioned 1,131 individuals.

Enforcement

S. Korean Financial Firms Push Back Against Executive Accountability

By Ranamita Chakraborty | 15/09/2021

Six industry bodies have filed a joint request asking regulators to grant their boards more autonomy over their internal affairs rather than punishing their executives.

Enforcement

SEBI Settles YES Bank Case of Selective Disclosures

By Editors | 15/09/2021

YES Bank allegedly made selective disclosures regarding its asset quality, and did not disclose regulatory breaches identified by the RBI.

Enforcement

Australia: Members Equity Bank Facing 62 Criminal Charges

By Editors | 15/09/2021

ASIC says ME Bank made false or misleading representations about interest rates and repayment amounts to home loan clients.

Enforcement

Korean Tech Giants Told to Comply with Consumer Protection Law

By Sanday Chongo Kabange | 15/09/2021

The FSC and FSS have ordered Kakao and Naver to alter or halt the sale of financial products online and register as brokerages by 24 September.

AML / KYC

German Finance, Justice Ministries Raided in Probe of FIU

By Sanday Chongo Kabange | 15/09/2021

The probe was launched following complaints that the FIU had not acted on millions of euros of suspect transactions between 2018 and 2020.

AML / KYC

Singapore Court Jails Businessman for Financing ISIS Fighter

By Ranamita Chakraborty | 13/09/2021

The Singaporean businessman gave about SGD 1,000 to a Malaysian man to finance his travel to Syria to become an ISIS fighter.

AML / KYC

NZ Court Fines CLSA Premium NZ for AML/CFT Breaches

By Sanday Chongo Kabange | 13/09/2021

The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ’s relationship with high net worth customers.

Enforcement

Another Top China Development Bank Exec Probed for Corruption

By Editors | 13/09/2021

He Xingxiang is the second most senior official at China Development Bank to become the subject of a corruption probe.