Enforcement

AML / KYC

SFC Fines Mason Securities for AML Breaches

By Editors | 17/12/2021

In deciding the disciplinary sanction, the SFC took into account the “extensive period of time” over which the failures occurred.

AML / KYC

Hong Kong, Singapore Authorities Arrest 10 in Joint Operation

By Manesh Samtani | 16/12/2021

Six senior executives of Hong Kong listed companies were among those arrested, for operating a cross-border pump-and-dump manipulation scheme.

AML / KYC

UK Court Convicts, Fines NatWest for AML Failings

By Editors | 15/12/2021

NatWest’s accepted cash deposits worth around GBP 264 million. The case represents the first time the FCA has pursued criminal charges for money laundering failings.

Enforcement

FMA Cancels Financial Advice Provider’s Transitional Licence

By Editors | 15/12/2021

This was the first transitional licence cancelled by the FMA, due to “serious misconduct” by the company’s sole financial adviser at a previous employer.

AML / KYC

US Treasury Targets Human Trafficking in Updated Action Plan

By Mark Johnston | 12/12/2021

Treasury will leverage its AML expertise to augment human trafficking investigations, and develop advisories to alert FIs to potential red flags.

Enforcement

ASIC Files Proceedings Against ANZ Over Unpaid Benefits

By Editors | 10/12/2021

ANZ and ASIC have filed a statement of agreed facts and admissions with the court and agreed on a proposed penalty of AUD 25 million.

Enforcement

China: Top Banking and Securities Officials Accused of Corruption

By Darien Choong | 09/12/2021

A new wave of anti-corruption probes has brought down senior officials and executives from the SSE, CSRC, CBIRC, ICBC and Everbright Bank.

Enforcement

NZ FMA Files Suit Against Kiwibank for Overcharging Customers

By Editors | 09/12/2021

Between September 2005 and March 2020, some 35,000 home loan customers were overcharged a total of NZD 1.1 million.

Enforcement

CSRC Issues New Rules for Settling Capital Market Violations

By Sanday Chongo Kabange | 08/12/2021

The new rules will enable parties suspected of engaging in illegal acts to pay administrative settlements rather than wait for investigations to be concluded.