Enforcement

Enforcement

Australian Court Issues Fines in First Criminal Case of Bad Audits

By Sanday Chongo Kabange | 19/08/2021

EC Audit and its former director Robert James Evett have been convicted and sentenced to pay fines for failing to follow auditing standards.

AML / KYC

CCDI Reveals Details of Corruption in China’s Rural Credit System

By Sanday Chongo Kabange | 19/08/2021

Two of the most prominent and well-documented corruption cases disclosed by the CCDI were found at rural credit unions in Anhui and Yunnan.

AML / KYC

Singapore Court Jails Key Members of SkillsFuture Scam

By Ranamita Chakraborty | 17/08/2021

A husband and wife were jailed for 17 and 14 years respectively after pleading guilty to cheating, forgery and money laundering offences.

Enforcement

ASIC Prosecutes 124 Individuals for Failing to Cooperate with Liquidators

By Editors | 17/08/2021

Company officers failed to provide registered liquidators access to the company’s books and submit reports on company activities and property.

Enforcement

Court Orders CBA to Publicise Overcharging Misconduct

By Sanday Chongo Kabange | 17/08/2021

The Federal Court has ordered CBA to publish notices on its website and its newsroom platform under the heading “Notification of Misconduct by CBA”.

Enforcement

SAC Punishes 19 Institutional Investors Over IPO Pricing Violations

By Editors | 16/08/2021

The Securities Association of China and Shanghai Stock Exchange found violations of price-setting rules and procedures for STAR Market IPOs.

Enforcement

Australian Court Orders BOQ to Replace Unfair Contract Terms

By Sanday Chongo Kabange | 15/08/2021

Bank of Queensland has been ordered to replace unfair contract terms in all standard form contracts with small business customers entered into from November 2016.

Securities / Derivatives

FMA Files Suit Against Company Director Over Online Posts

By Editors | 15/08/2021

The CEO of NZX-listed New Talisman Gold Mines made false and misleading representations in an online investor forum without disclosing his involvement with the company.

Enforcement

ASIC to Adopt ‘Reasonable Approach’ to Financial Sector Reforms

By Ranamita Chakraborty | 13/08/2021

ASIC will take a ‘reasonable approach’ to technical or inadvertent breaches, in recognition that six new reforms taking effect in October will present challenges to firms.