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AML / KYC
Malaysia SC Offers Guidance on Detecting Fake Investment Firms
By Editors | 01/06/2022
In one case, approximately $821,000 flowed through one mule bank account controlled by scam operators within a period of six months.
ESG / Sustainability
German Prosecutors Raid DWS Offices Over ESG Claims
By Editors | 01/06/2022
“Sufficient factual evidence” has emerged that ESG factors were not taken into account in many investments, contrary to claims made in DWS fund prospectuses.
Enforcement
US SEC Penalises Online Broker Over Meme Stock Restrictions
By Mark Johnston | 01/06/2022
In January 2021, TradeZero America halted trading in three meme stocks for about 10 minutes, but later told investors it had resisted instructions from its clearing broker to do so.
Enforcement
ASIC Files Suit Against ANZ Over ‘Unlawful’ Credit Card Charges
By Editors | 31/05/2022
ANZ charged fees and interest to customers who withdrew funds that were shown as available on their credit card account balances.
Capital / Liquidity
RBNZ Commends Westpac for Improved Liquidity Risk Management
By Editors | 31/05/2022
The RBNZ says Westpac NZ has improved its liquidity risk management and risk culture by improving resourcing and governance.
Enforcement
ACCC Commences Legal Proceedings Against Mastercard Units
By Editors | 31/05/2022
The ACCC says Mastercard offered cheaper rates to over 20 major retail businesses if they used its own network to process transactions.
Enforcement
China Faces Protests in Henan Over Suspected Rural Bank Scams
By Editors | 30/05/2022
Bank customers in Henan province are demanding the return of billions of dollars of deposits after finding they were unable to withdraw their funds.
Enforcement
SEBI Raids Brokers in Axis Fund Front-running Probe
By Editors | 29/05/2022
Fund managers of Axis Mutual Fund shared trade information with outside brokers and other entities who traded on the information ahead of Axis funds.
Enforcement
Korea FSS to Extend Woori Bank Embezzlement Probe
By Editors | 29/05/2022
The FSS will seek to understand why Woori’s internal control system failed to detect embezzlement by its employee over ten years.
Securities / Derivatives
SSE Proposes to Increase Transparency of Disciplinary Processes
By Editors | 28/05/2022
The SSE is revising its rules on disciplinary actions, reviews and hearings to enhance transparency, standardisation and efficiency.
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