ENFORCEMENT

AML / KYC

BOT Warns Against Using Crypto As Means of Payment

By Sanday Chongo Kabange | 18/07/2021

If the use of digital assets as a means of payment for goods and services become widespread, the BOT will take action in coordination with the SEC.

AML / KYC

SFC Issues Warning on Unregulated Virtual Asset Platforms

By Editors | 18/07/2021

Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.

AML / KYC

US Government Warns Of Rising Business Risk in Hong Kong

By Editors | 18/07/2021

A business advisory from four US government agencies says US firms should be aware of the risks they face if they continue operating in Hong Kong.

Enforcement

CBIRC Sichuan Official Placed Under Corruption Probe

By Editors | 17/07/2021

Li Guorong, the deputy head of the Sichuan bureau of the CBIRC, is being investigated for alleged corruption.

AML / KYC

Bangladesh Brokerage Owners Accused of Embezzlement

By Editors | 17/07/2021

The BSEC has initiated an inquiry into Banco Securities, which has already had its trading suspended and bank account frozen amid embezzlement allegations.

Enforcement

Hong Kong Stock Exchange Issues Revised Enforcement Policy

By Matt Emsley | 16/07/2021

Herbert Smith Freehills partners explain the implications of the Hong Kong Stock Exchange’s updated policy statement on Listing Rule enforcement.

Enforcement

Bangladesh Probes Loss-making State Banks Over Large Bonuses

By Sanday Chongo Kabange | 16/07/2021

Under existing rules, employees should not receive incentive bonuses from state-owned commercial banks if they fail to make a profit.

Enforcement

Chinese Regulators Penalise Dagong Global Credit Rating

By Sanday Chongo Kabange | 16/07/2021

Dagong failed to adequately scrutinise or inspect the businesses it was evaluating, and adjusted its ratings models without giving sufficient reason.

Enforcement

RBI Imposes Restrictions on Mastercard Over Data Storage

By Editors | 15/07/2021

The action may hamper the ability of private banks to issue new cards to customers in the near term due to their exclusive tie-ups with Mastercard.