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Capital / Liquidity
APRA Frees Westpac from Add-on Liquidity Requirement
By Editors | 01/09/2022
The liquidity add-on was imposed in 2020 in response to breaches which APRA said demonstrated weaknesses in the bank’s risk management and oversight.
AML / KYC
MAS Fines UOBKH for Business Conduct, AML Failures
By Editors | 31/08/2022
UOBKH failed to implement adequate controls for its corporate finance business and to ensure it was subject to internal audit.
Enforcement
China Merchants Securities Probe Prompts 23 IPO Halts
By Editors | 31/08/2022
China Merchants Securities is under investigation for violations in 2014, prompting suspensions of 23 IPOs it is sponsoring.
AML / KYC
Chinese Police Arrest 234 Suspects for Henan Bank Fraud
By Editors | 31/08/2022
Authorities say they have made “significant progress” in recovering the stolen money and have also started repaying more victims of the fraud.
AML / KYC
AUSTRAC Orders AML Audit at The Perth Mint
By Manesh Samtani | 31/08/2022
Earlier reports suggest the audit could be related to Perth Mint’s previous relationship with Euro Pacific Bank, which was forced to close in Puerto Rico earlier this year.
Enforcement
CBIRC Directs FIs to Correct Violations of Personal Data Rights
By Darien Choong | 30/08/2022
Banks, wealth management companies, and insurance companies are required to perform self-assessments to identify and rectify violations.
Enforcement
UK Regulators Conclude Six-Year Probe Into HBOS Execs
By Manesh Samtani | 30/08/2022
No further action will be taken against former senior managers of HBOS, which collapsed in 2008 during the height of the 2008 global financial crisis.
Enforcement
Korean Regulators Start Short-selling Inspections at Foreign Firms
By Editors | 30/08/2022
The FSS has launched an inspection of Morgan Stanley’s short-selling practices. Similar inspections at BAML and Goldman Sachs will come next.
Enforcement
Myanmar Warns Against Illegal Foreign Exchange Trading
By Mark Johnston | 29/08/2022
The central bank warned that serious action will be taken against online businesses that are found to be illegally buying and selling foreign currencies.
Enforcement
Bangladesh Bank Intensifies Crackdown on Illegal FX Transactions
By Mark Johnston | 29/08/2022
Dozens of money changers are being investigated for money laundering. Several banks are accused of making “excessive” profits from dollar sales.
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