Enforcement

Enforcement

FSC Taiwan to Order LINE Bank to Improve Operations

By Sanday Chongo Kabange | 11/05/2021

The FSC says LINE Bank’s report explaining its launch day system failure was not satisfactory. The regulator will ask the bank improves its operations.

AML / KYC

FMA, CLSA Premium NZ Agree Statement of Facts on AML Breaches

By Editors | 11/05/2021

The FMA is seeking a pecuniary penalty against CLSA Premium NZ and costs. The maximum penalty is NZD 2 million.

Enforcement

HKICPA, FRC Agree to Share Information, Refer Cases

By Editors | 11/05/2021

The MoU is expected to enhance audit quality, contribute to the development of the Hong Kong audit market, and promote confidence in the capital markets.

AML / KYC

Malaysia Files 22 Civil Suits to Recover 1MDB Losses

By Manesh Samtani | 11/05/2021

Among those named in the lawsuits are Deutsche Bank, Coutts, JPMorgan, former prime minister Najib Razak, and Malaysian financier Jho Low.

Enforcement

ASIC Bans Former ANZ Representative For Eight Years

By Editors | 10/05/2021

The representative falsely witnessed binding nomination of beneficiary forms for 17 clients, backdated documents, and falsified a client’s signature.

Enforcement

MAS Issues 10-Year Ban Against Individual for Dishonest Conduct

By Editors | 10/05/2021

The individual carried out fund management activities without holding a capital markets services licence, and later convicted of cheating and imprisoned.

Crypto / Digital Assets

Korea: Police Raid Crypto Exchange, Freeze $214m in Assets

By Editors | 08/05/2021

Crypto exchange V Global is alleged to have engaged in an illegal multi-level marketing scheme to lure investors.

Enforcement

SGX RegCo Deploys AI & Machine Learning to Detect Risk

By Editors | 06/05/2021

SGX RegCo is adapting information from companies’ disclosures into structured data that can be more quickly analysed.

Enforcement

China SOEs Directed to Rein In Unauthorised Derivatives Trading

By Editors | 06/05/2021

SOEs are directed to ensure their subsidiaries are qualified and properly approved to trade financial derivatives, and able to manage the associated risk.