ENFORCEMENT

    AML / KYC

    AFP, AUSTRAC Probe Payments via Adult Content Site – Report

    By Editors | 28/05/2021

    Banks and regulators are unable to establish who receives the payments via UK-based platform OnlyFans, which acts as an intermediary for content makers.

    Enforcement

    SFC Fines Ewarton Securities Over Staff Trading Controls

    By Manesh Samtani | 27/05/2021

    A lack of internal controls resulted in Ewarton’s failure to detect and prevent unauthorised or improper activities by a licensed representative.

    Enforcement

    UPDATE: Former Adviser Jailed for Six Years in Australia

    By Ranamita Chakraborty | 27/05/2021

    Former adviser Ross Andrew Hopkins misappropriated about A$2.9mn of client funds without their knowledge over three years.

    AML / KYC

    RBNZ Takes Court Action Against TSB Bank for AML Failures

    By Editors | 27/05/2021

    The court action and pecuniary penalties sought are a result of TSB Bank not responding sufficiently to the RBNZ’s initial formal warning in 2016.

    Enforcement

    Korea FSS Orders IBK to Compensate Investors Over Mis-sold Funds

    By Editors | 26/05/2021

    The FSS said IBK failed to adequately inform customers of potential high risks and lacked internal controls to monitor the selling process.

    Enforcement

    China: Policymakers Warn Against Commodity Market Speculation

    By Editors | 25/05/2021

    Regulators will strengthen supervision of commodity futures and the spot market with a “zero tolerance” for illegal activities.

    Enforcement

    Japan Post Bank Misplaces Customer Transaction Data

    By Editors | 25/05/2021

    The missing records include information such as clients’ names and bank account numbers, which are supposed to be retained for 10 years.

    Enforcement

    Nomura, UBS, UniCredit Fined for Participating in Trading Cartel

    By Editors | 24/05/2021

    During Europe’s sovereign debt crisis, the banks shared information about their EGB bidding and trading strategies in Bloomberg terminal chat rooms.

    Enforcement

    S. Korea Revises Law to Strengthen Market Integrity

    By Editors | 24/05/2021

    The revisions will ease approval processes for financial investment businesses, including foreign firms, while also increasing penalties for stock manipulation.

    Enforcement

    CBIRC Penalises Five Banks for Regulatory Violations

    By Editors | 23/05/2021

    Huaxia Bank, China Bohai Bank, Bank of China, China Merchants Bank and Bank of East Asia’s China branch were fined a total $56.9mn.

    JOIN OUR NEWSLETTER

    A daily selection of top stories from the Regulation Asia editorial team