Enforcement

Enforcement

Taiwan: Revised Financial Consumer Protection Act Take Effect

By Editors | 22/09/2021

The amendments raise the limits on compensation that can be awarded in consumer disputes without being subject to appeal.

AML / KYC

US Sanctions Crypto Firm Over Ransomware Payments

By Editors | 21/09/2021

OFAC has designated crypto OTC broker Suex, which operates from Russia, for facilitating transactions involving the proceeds of ransomware payments.

Enforcement

HK Court Convicts Former Convoy Executives for Fraud

By Editors | 21/09/2021

Former Convoy executives conspired to dishonestly arrange for bond placement commissions to be diverted to a company they substantially owned.

Enforcement

FSS Korea to Appeal Ruling Nullifying Woori Chairman Ban

By Editors | 20/09/2021

The appeal will follow a court decision to nullify an FSS decision to ban Woori Financial Group chairman Sohn Tae-seung for three years.

Securities / Derivatives

CSRC Forms Inter-agency Group to Rein in Capital Market Crime

By Editors | 18/09/2021

The group will enhance coordination between the central and local government agencies to better enforce against and punish capital markets misconduct.

Enforcement

ACCC Launches Formal Investigation into Apple Pay

By Editors | 17/09/2021

Cards held in a third-party wallet such as a bank app can pay in-store only if they are routed through Apple Pay for a cost.

Enforcement

Philippine Lawmaker Introduces Bill to Tackle Rising Cybercrime

By Ranamita Chakraborty | 17/09/2021

The bill requires banks and non-bank FIs to “exhaust all means to ensure that victims are able to recover their monetary loss, if any”.

Enforcement

SEBI to Shorten Time Allowed to Settle Enforcement Proceedings

By Editors | 16/09/2021

SEBI proposes to reduce the timeline allowed for entities to file applications to settle enforcement proceedings from 180 to 60 days.

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.