Enforcement

Enforcement

CBA Faces Criminal Charges Over Consumer Credit Insurance Sales

By Editors | 16/09/2021

Commonwealth Bank plans to plead guilty to making false or misleading representations to customers about insurance policies.

Enforcement

Hong Kong ICAC Files Criminal Charges Against Former AXA Agents

By Editors | 15/09/2021

Three ex-insurance agents allegedly conspired to defraud AXA of HK$1.2mn in commissions and bonuses, and to launder over HK$2.7mn in crime proceeds.

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.