Enforcement

    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.

    Enforcement

    Hong Kong ICAC Files Criminal Charges Against Former AXA Agents

    By Editors | 15/09/2021

    Three ex-insurance agents allegedly conspired to defraud AXA of HK$1.2mn in commissions and bonuses, and to launder over HK$2.7mn in crime proceeds.

    Enforcement

    PCAOB Fines KPMG Australia Over Training-related Misconduct

    By Editors | 15/09/2021

    Cheating in online training tests was found to be widespread within the audit practice. KPMG Australia sanctioned 1,131 individuals.

    Enforcement

    S. Korean Financial Firms Push Back Against Executive Accountability

    By Ranamita Chakraborty | 15/09/2021

    Six industry bodies have filed a joint request asking regulators to grant their boards more autonomy over their internal affairs rather than punishing their executives.

    Enforcement

    SEBI Settles YES Bank Case of Selective Disclosures

    By Editors | 15/09/2021

    YES Bank allegedly made selective disclosures regarding its asset quality, and did not disclose regulatory breaches identified by the RBI.

    Enforcement

    Australia: Members Equity Bank Facing 62 Criminal Charges

    By Editors | 15/09/2021

    ASIC says ME Bank made false or misleading representations about interest rates and repayment amounts to home loan clients.

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