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Enforcement
FSC Korea Fines Ten Foreign Firms for Short Selling Violations
By Editors | 28/02/2021
The FSC did not name the firms that were penalised, but said the highest fine was KRW 180 million against a firm that committed four violations.
Enforcement
CSRC Issues Warning Letters to Audit, Asset Appraisal Firms
By Editors | 28/02/2021
Warning letters have been issued to 8 audit firms, 28 certified public accountants, 6 assessment agencies, 27 asset appraisers and 6 practitioners.
Enforcement
ASIC Files Charges Against Allianz, AWP Over False Advertising
By Editors | 27/02/2021
Allianz faces a maximum penalty of A$8mn for each of seven charges for making false or misleading statements regarding the sale of travel insurance products.
Enforcement
ASIC Commences Legal Proceedings Against NAB Over Unlawful Fees
By Editors | 27/02/2021
ASIC says NAB charged some customers periodic payment fees when they were entitled to an exemption, and charged other customers the wrong fee.
Enforcement
SFC, FRC to Enhance Regulatory Cooperation in Capital Markets
By Editors | 25/02/2021
Collaboration will be key to combat persistent problems with false or misleading financial statements and other corporate misconduct, said SFC Chairman Tim Lui.
Enforcement
MAS Bans Former Insurance Broker for Dishonest Conduct
By Editors | 25/02/2021
The former insurance broker was banned for unauthorised selling of general insurance when he was only licensed to sell life policies.
Enforcement
ASIC Offers Immunity to Market Misconduct Whistleblowers
By Editors | 25/02/2021
Under ASIC’s new immunity policy, individuals who have engaged with others to commit market misconduct offences can seek immunity by reporting the misconduct.
Enforcement
FSS Korea Orders Woori, IBK to Compensate Lime Investors
By Editors | 25/02/2021
The FSS will encourage banks and securities firms that sold frozen Lime funds to voluntarily settle disputes with other investors based rates set at the ruling.
AML / KYC
Singapore Police Set to Charge Suspect in Covid-19 Scam
By Editors | 24/02/2021
Last March, the suspect used the identity of a legitimate company to advertise and sell surgical masks and hand sanitisers that were never delivered.
AML / KYC
Australian Police Charge Man for Crypto Related Money Laundering
By Editors | 23/02/2021
Police say the Sydney man directed “money launderers for hire” to convert nearly A$5.5mn of cash into bitcoin on his behalf.
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