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Enforcement
SEBI Settles YES Bank Case of Selective Disclosures
By Editors | 15/09/2021
YES Bank allegedly made selective disclosures regarding its asset quality, and did not disclose regulatory breaches identified by the RBI.
Enforcement
Australia: Members Equity Bank Facing 62 Criminal Charges
By Editors | 15/09/2021
ASIC says ME Bank made false or misleading representations about interest rates and repayment amounts to home loan clients.
Enforcement
Korean Tech Giants Told to Comply with Consumer Protection Law
By Sanday Chongo Kabange | 15/09/2021
The FSC and FSS have ordered Kakao and Naver to alter or halt the sale of financial products online and register as brokerages by 24 September.
AML / KYC
German Finance, Justice Ministries Raided in Probe of FIU
By Sanday Chongo Kabange | 15/09/2021
The probe was launched following complaints that the FIU had not acted on millions of euros of suspect transactions between 2018 and 2020.
AML / KYC
Singapore Court Jails Businessman for Financing ISIS Fighter
By Ranamita Chakraborty | 13/09/2021
The Singaporean businessman gave about SGD 1,000 to a Malaysian man to finance his travel to Syria to become an ISIS fighter.
AML / KYC
NZ Court Fines CLSA Premium NZ for AML/CFT Breaches
By Sanday Chongo Kabange | 13/09/2021
The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ’s relationship with high net worth customers.
Enforcement
Another Top China Development Bank Exec Probed for Corruption
By Editors | 13/09/2021
He Xingxiang is the second most senior official at China Development Bank to become the subject of a corruption probe.
Enforcement
BSP Introduces Stricter Penalty Framework for FIs
By Sanday Chongo Kabange | 13/09/2021
Monetary penalties have increased from PHP 30,000 to a maximum PHP 1 million for each violation. Fines up to three times profit gained or loss avoided can also be imposed.
Enforcement
Bursa Malaysia Punishes RHB Investment Bank Representatives
By Editors | 13/09/2021
The dealer’s representatives engaged in discretionary trading without proper authorisation, causing “significant losses” to a client.
Enforcement
KRX to Temporarily Exempt Market Makers from Obligations
By Editors | 12/09/2021
KRX says the FSS warning of fines against nine market makers will hamper the functioning of the market making system for a while.
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