ENFORCEMENT

AML / KYC

US Sanctions Four More Officials Over Hong Kong National Security Law

By Sanday Chongo Kabange | 10/11/2020

China’s Foreign Ministry says the move is a violation of the basic norms governing international relations, urging the US to withdraw the sanctions.

Enforcement

SFC Fines Credit Suisse Securities Over Market Making Errors

By Editors | 09/11/2020

Credit Suisse Securities submitted 17,000 erroneous market making quotes to the market in 8 minutes due to a logic error in its symbol mapping programme.

AML / KYC

SFC Eases Uncertainty Over National Security Law – Report

By Editors | 09/11/2020

Implementing US sanctions is unlikely to be considered a breach of the national security law. The SFC has dropped a plan to force cloud providers to share client data.

Enforcement

Second Ex-Chairman of Hengfeng Bank Gets Death Sentence

By Editors | 08/11/2020

The former chairman will have his sentence commuted to life in prison if he commits no further crime over the next two years.

Enforcement

SC Malaysia Wins MYR 3.1m in Insider Trading Case

By Sanday Chongo Kabange | 05/11/2020

The former senior partner of a law firm acquired shares in Worldwide Holdings in the months leading up to an announcement that the firm would be privatised.

Fintech / Regtech

MAS Targets Market Abuse, Misconduct, AML Control Breaches

By Editors | 04/11/2020

In its latest enforcement report, MAS highlights its work to strengthen early detection of market misconduct, including through Apollo, an augmented intelligence system.

Enforcement

New Zealand FMA Proposes New Guidance on KiwiSaver Fees

By Editors | 04/11/2020

The proposed guidance sets out ongoing obligations for KiwiSaver schemes to regularly review their fees to ensure members not being charged unreasonable fees.

Enforcement

BaFin, FREP Were Deficient in Supervising Wirecard, says ESMA

By Editors | 04/11/2020

ESMA says it identified deficiencies, inefficiencies and legal and procedural impediments in the supervisory response to Wirecard between 2016 and 2018.

Enforcement

ASIC Secures A$10m in Refunds for Customers from Allianz

By Sanday Chongo Kabange | 04/11/2020

Up to 31,000 consumers have been remediated for misconduct relating to the sale of travel insurance through Allianz’s own website and those of its partners.