Enforcement

AML / KYC

German Finance, Justice Ministries Raided in Probe of FIU

By Sanday Chongo Kabange | 15/09/2021

The probe was launched following complaints that the FIU had not acted on millions of euros of suspect transactions between 2018 and 2020.

AML / KYC

Singapore Court Jails Businessman for Financing ISIS Fighter

By Ranamita Chakraborty | 13/09/2021

The Singaporean businessman gave about SGD 1,000 to a Malaysian man to finance his travel to Syria to become an ISIS fighter.

AML / KYC

NZ Court Fines CLSA Premium NZ for AML/CFT Breaches

By Sanday Chongo Kabange | 13/09/2021

The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ’s relationship with high net worth customers.

Enforcement

Another Top China Development Bank Exec Probed for Corruption

By Editors | 13/09/2021

He Xingxiang is the second most senior official at China Development Bank to become the subject of a corruption probe.

Enforcement

BSP Introduces Stricter Penalty Framework for FIs

By Sanday Chongo Kabange | 13/09/2021

Monetary penalties have increased from PHP 30,000 to a maximum PHP 1 million for each violation. Fines up to three times profit gained or loss avoided can also be imposed.

Enforcement

Bursa Malaysia Punishes RHB Investment Bank Representatives

By Editors | 13/09/2021

The dealer’s representatives engaged in discretionary trading without proper authorisation, causing “significant losses” to a client.

Enforcement

KRX to Temporarily Exempt Market Makers from Obligations

By Editors | 12/09/2021

KRX says the FSS warning of fines against nine market makers will hamper the functioning of the market making system for a while.

Enforcement

CSRC Probes Haitong Securities in Financial Reporting Fraud Case

By Editors | 10/09/2021

Haitong is suspected of negligence and violations of law and regulations when it served as financial adviser on a deal to help a client on a backdoor listing deal.

Enforcement

Global Regulators Heighten Scrutiny Over ESG Mislabelling – Reports

By Sanday Chongo Kabange | 09/09/2021

Increased scrutiny from US, EU and UK regulators have forced asset managers to review current practices for classifying funds as ESG-focused.