Enforcement

AML / KYC

AFP Wins First Asset Confiscation Case Under Operation Ironside

By Editors | 01/10/2021

A$6mn in cash obtained as a result of the forfeiture order will be redistributed to support crime prevention, law enforcement and related community initiatives.

AML / KYC

NZ FMA Toughens Approach to AML Non-Compliance

By Manesh Samtani | 30/09/2021

The FMA’s James Greig noted a lower tolerance for AML/CFT non-compliance, given the regime has been in place for eight years.

AML / KYC

US DOJ Links Singapore, Hong Kong to Tax Evasion Case

By Editors | 30/09/2021

An unsealed indictment shows that six individuals and a Swiss firm used accounts in Singapore and Hong Kong to help US clients evade taxes from 2009 to 2014.

Enforcement

CSRC Issues Draft Rules Promoting ‘Honest’ Investment Banking

By Editors | 30/09/2021

The draft rules require investment banking intermediaries to strengthen risk control and strictly prohibit the use of below-market pricing to win business.

AML / KYC

Hong Kong Sees Spike in Investment Scam Losses – Report

By Editors | 29/09/2021

Victims lost HKD 2.5 billion from investment scams between January and July, a 20-fold increase compared to the same period last year.

Enforcement

Ex-CBIRC Official Took Bribes During Baoshang Takeover – Report

By Editors | 29/09/2021

Li Guorong is accused of taking bribes from entrepreneurs while serving as deputy head of a team appointed to take over Baoshang Bank.

Enforcement

Shenzhen Regulator Launches Probe into Evergrande Wealth

By Editors | 29/09/2021

The Shenzhen Financial Regulatory Bureau said a “thorough investigation” into Evergrande Wealth has been launched following investor demands for an inquiry.

Enforcement

Enforcement Should Drive Good Conduct, says HKEX’s Jon Witts

By Manesh Samtani | 28/09/2021

HKEX’s approach to enforcement is designed to drive better conduct, governance and compliance culture, says Head of Listing Enforcement Jon Witts.

AML / KYC

US DOJ Agrees to Release of Huawei’s Meng Wanzhou

By Editors | 27/09/2021

Under a deferred prosecution agreement, Meng admitted to making material misrepresentations to HSBC regarding Huawei’s operations in Iran.