Enforcement

Enforcement

Another Top China Development Bank Exec Probed for Corruption

By Editors | 13/09/2021

He Xingxiang is the second most senior official at China Development Bank to become the subject of a corruption probe.

Enforcement

BSP Introduces Stricter Penalty Framework for FIs

By Sanday Chongo Kabange | 13/09/2021

Monetary penalties have increased from PHP 30,000 to a maximum PHP 1 million for each violation. Fines up to three times profit gained or loss avoided can also be imposed.

Enforcement

Bursa Malaysia Punishes RHB Investment Bank Representatives

By Editors | 13/09/2021

The dealer’s representatives engaged in discretionary trading without proper authorisation, causing “significant losses” to a client.

Enforcement

KRX to Temporarily Exempt Market Makers from Obligations

By Editors | 12/09/2021

KRX says the FSS warning of fines against nine market makers will hamper the functioning of the market making system for a while.

Enforcement

CSRC Probes Haitong Securities in Financial Reporting Fraud Case

By Editors | 10/09/2021

Haitong is suspected of negligence and violations of law and regulations when it served as financial adviser on a deal to help a client on a backdoor listing deal.

Enforcement

Global Regulators Heighten Scrutiny Over ESG Mislabelling – Reports

By Sanday Chongo Kabange | 09/09/2021

Increased scrutiny from US, EU and UK regulators have forced asset managers to review current practices for classifying funds as ESG-focused.

Enforcement

Singapore Court Jails Russian National for Deceiving Banks

By Sanday Chongo Kabange | 09/09/2021

The banks were deceived regarding true beneficial ownership in their decision to open bank accounts between 2014 to 2017.

Enforcement

Australian Court Fines Allianz, AWP for Deceptive Conduct

By Editors | 09/09/2021

Allianz and AWP will pay a total AUD 1.5 million for engaging in misleading and deceptive conduct when selling travel insurance.

Enforcement

Hong Kong ICAC Charges Ex-HSBC Banker for Accepting Bribes

By Editors | 09/09/2021

The bribes were paid as an inducement to or reward for the ex-banker to conceal the identity of the ultimate controller of two SMEs that obtained loans from HSBC.