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Enforcement
Philippine SEC Threatens Online Lenders with Licence Revocation
By Sanday Chongo Kabange | 29/06/2021
The threat is aimed at lending and financing companies that have failed to register and disclose their online lending platforms.
Enforcement
CBIRC Bans Ex-President of Sichuan Trust for 8 Years
By Sanday Chongo Kabange | 29/06/2021
Former Sichuan Trust president Chen Jun is being punished for his role in the firm’s failure to repay investors about CNY 25 billion.
AML / KYC
New FATF Report Sounds Alarm Over Environmental Crime
By Manesh Samtani | 29/06/2021
The report highlights the use of trade-based fraud and shell companies by criminals to launder proceeds from environmental crime.
Enforcement
Korea FSC Extends Optimus Suspension for Six More Months
By Sanday Chongo Kabange | 28/06/2021
A new fund management company is being set up to take over and manage funds previously operated by Optimus Asset Management.
Enforcement
105 More Charges Laid Against Hin Leong Founder
By Editors | 27/06/2021
Lim Oon Kuin now faces a total of 130 charges, including 68 for cheating, 47 for abetment of forgery, and 14 for abetment for forgery for the purpose of cheating.
Enforcement
ASIC Removes SocGen Securities Licence Conditions
By Ranamita Chakraborty | 27/06/2021
Independent expert did not identify any deficiencies in the adequacy and effectiveness of SocGen’s client money controls.
AML / KYC
FATF Plenary Packs Powerful Punch
By Manesh Samtani | 25/06/2021
The FATF finalised reports on technological innovation, environmental crime, and asset recovery. New guidance on PF risk and a white paper on beneficial ownership were also finalised.
Enforcement
SFC Probes CLSA Over CEFC Energy Bond Deal
By Sanday Chongo Kabange | 25/06/2021
A former CLSA managing director has accused CLSA of “blatant” misbehaviour as bond underwriter for the now-defunct CEFC Energy.
Enforcement
SGX RegCo Set to Expand Enforcement Powers
By Manesh Samtani | 25/06/2021
From 1 August, SGX RegCo will be able to issue public reprimands, require issuers to comply with specified conditions, and demand director resignations.
Enforcement
SFC Fines Deutsche Securities Asia Over Prime Brokerage Statements
By Editors | 25/06/2021
A system design caused a failure to distinguish between ex-entitlement dates and settlement dates of bonus share events in periodic statements.
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