Enforcement

    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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