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Enforcement
US SEC, BaFin Probe DWS Over ESG Investment – Reports
By Editors | 30/08/2021
The former global head of sustainability at DWS alleges that the firm overstated how many assets had been screened against ESG criteria.
Enforcement
HK Police Arrest Two in Corporate Fraud Case
By Editors | 30/08/2021
The arrests were made following a joint operation with the SFC against a listed company and its former senior executives suspected of corporate fraud involving HK$450mn.
Enforcement
ASIC Prioritises Economic Recovery in New Corporate Plan
By Ranamita Chakraborty | 26/08/2021
ASIC’s key external priorities for the next four years include the economy, innovation, consumer harm, cyber resilience, and industry readiness for regulatory reforms.
Enforcement
Australian Court Fines NAB Over Fee Disclosure Statements
By Sanday Chongo Kabange | 26/08/2021
NAB charged fees for personal advice without providing customers fee disclosure statements, providing them late, or containing false misleading information.
Enforcement
Westpac Subsidiaries Fined for Breaching Best Interests Duty
By Sanday Chongo Kabange | 26/08/2021
Westpac Securities Administration and BT Funds Management were fined for failing to act in their clients’ best interests in a case that dates back to 2016.
AML / KYC
GCFFC Calls for Action on Beneficial Ownership Data
By Manesh Samtani | 26/08/2021
Beneficial ownership data should be structured and interoperable, collated in a central register, and accessible to all actors fighting financial crime.
Enforcement
Indian Police Arrest Karvy Stock Broking Founder for Fraud
By Editors | 25/08/2021
The case dates back to 2019, when the brokerage was found to have pledged client securities at banks to secure loans for use as working capital.
Enforcement
China Suspends Over 40 IPOs Amid CSRC Regulatory Probe
By Sanday Chongo Kabange | 25/08/2021
The CSRC is investigating a broker, a law firm, an asset appraisal firm, and accounting firm over their alleged involvement in share sales.
Enforcement
Singapore Police Charges Ex-UOB Banker Over Data Disclosure
By Editors | 25/08/2021
The ex-UOB employee accessed customer data from banking systems and disclosed the information to a scammer purporting to represent the Shanghai Police.
Enforcement
FMA Identifies AML Breaches by Investment Platform Sharesies
By Editors | 23/08/2021
The FMA has ordered Sharesies to amend its onboarding process and implement a process to complete identity verification at onboarding.
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