ENFORCEMENT

    AML / KYC

    FATF Plenary Packs Powerful Punch

    By Manesh Samtani | 25/06/2021

    The FATF finalised reports on technological innovation, environmental crime, and asset recovery. New guidance on PF risk and a white paper on beneficial ownership were also finalised.

    Enforcement

    SFC Probes CLSA Over CEFC Energy Bond Deal

    By Sanday Chongo Kabange | 25/06/2021

    A former CLSA managing director has accused CLSA of “blatant” misbehaviour as bond underwriter for the now-defunct CEFC Energy.

    Enforcement

    SGX RegCo Set to Expand Enforcement Powers

    By Manesh Samtani | 25/06/2021

    From 1 August, SGX RegCo will be able to issue public reprimands, require issuers to comply with specified conditions, and demand director resignations.

    Enforcement

    SFC Fines Deutsche Securities Asia Over Prime Brokerage Statements

    By Editors | 25/06/2021

    A system design caused a failure to distinguish between ex-entitlement dates and settlement dates of bonus share events in periodic statements.

    AML / KYC

    China Bank Official Expelled from CCP Amid Corruption Probe

    By Sanday Chongo Kabange | 24/06/2021

    The ex-president of China Development Bank’s Chongqing branch has been expelled from the CCP and removed from all public posts amid a corruption probe.

    Enforcement

    CBIRC Issues Draft Rules on Related Party Transactions

    By Editors | 24/06/2021

    Banks and insurers are required to put in place mechanisms to prevent the transfer of benefits to shareholders and their related parties.

    AML / KYC

    Korean Officials Seize Cryptocurrency from Tax Evaders

    By Editors | 23/06/2021

    Investigators had to compare tax evaders’ mobile phone numbers against those registered at crypto exchanges in order to track down their account details.

    AML / KYC

    PBOC Directs Banks & Alipay to Stamp Out Crypto Activity

    By Manesh Samtani | 22/06/2021

    Financial institutions are asked to identify the capital accounts of crypto exchanges and OTC dealers, and cut off their payment channels.

    AML / KYC

    Former CBIRC Official Expelled from CCP for Corruption

    By Sanday Chongo Kabange | 17/06/2021

    Liu Wenyi’s case is said to be linked to the failure of Bank of Jinzhou as well as a corruption investigation involving a former head of Bank of Huludao.

    AML / KYC

    NAB Contract Workers Received Little AML Training: Report

    By Ranamita Chakraborty | 17/06/2021

    The revelation comes follows AUSTRAC’s launch of a formal enforcement investigation into NAB earlier this month.

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