ENFORCEMENT

AML / KYC

NSW Police, AUSTRAC Disrupt Money Laundering Operation

By Editors | 25/11/2020

Two men have been arrested and charged over illegal transfers of currency into offshore accounts as part of an investigation that began in June.

Enforcement

China Vows ‘Zero Tolerance’ for Bond Issuer Misconduct

By Editors | 24/11/2020

The FSDC will strictly investigate any bond issuer suspected of fraudulent issuance, false disclosure, malicious transfers of assets, or misappropriation of funds.

Enforcement

Australian Court Fines Responsible Entity Over Product Disclosures

By Sanday Chongo Kabange | 23/11/2020

Theta Asset Management and its ex-managing director were fined a combined A$2.1mn for authorising the issue of five defective product disclosure statements.

Enforcement

ASIC Orders Fund Manager to Stop Misleading Radio Advertising

By Editors | 22/11/2020

The stop order prohibits Skyring Funds Management from comparing its fixed income fund to bank-issued deposit products in advertising.

Enforcement

China Bond Default Shock Prompts NAFMII Underwriter Probe

By Manesh Samtani | 19/11/2020

Haitong Securities, Industrial Bank, China Everbright Bank, Zhongyuan Bank are suspected of violations, as recent defaults prompt concerns over the health of SOEs.

Crypto / Digital Assets

Australian Police Charge Ex-Promoter of Failed Crypto Platform

By Sanday Chongo Kabange | 19/11/2020

The former BitConnect promoter is said to have operated an unregistered managed investment scheme and provided unlicensed financial advice.

Enforcement

Taishin Bank Employee Arrested in Taiwan for Embezzlement

By Sanday Chongo Kabange | 19/11/2020

The employee allegedly misappropriated over $10.5mn. The FSC described the case as “the biggest embezzlement case in Taiwan’s banking history”.

Enforcement

CSRC Pledges to Improve Listed Company Governance, Supervision

By Sanday Chongo Kabange | 15/11/2020

A targeted campaign will be launched to improve supervisory oversight in the capital market and enhance corporate governance in listed companies.

Enforcement

Korea FSS Seeks to Suspend Former Brokerage CEOs Over Lime Mis-selling

By Editors | 13/11/2020

The FSS has decided to order the suspension of the former CEOs of Shinhan Investment, Daishin Securities and KB Securities over the mis-selling of Lime Asset Management funds.