Enforcement

Enforcement

SGX RegCo Deploys AI & Machine Learning to Detect Risk

By Editors | 06/05/2021

SGX RegCo is adapting information from companies’ disclosures into structured data that can be more quickly analysed.

Enforcement

China SOEs Directed to Rein In Unauthorised Derivatives Trading

By Editors | 06/05/2021

SOEs are directed to ensure their subsidiaries are qualified and properly approved to trade financial derivatives, and able to manage the associated risk.

Enforcement

HKEX Proceeds to Delist Shares of Convoy Global Holdings

By Sanday Chongo Kabange | 06/05/2021

HKEX says its Listing Review Committee has upheld the May 2020 decision to cancel the listing of Convoy Global Holdings.

Enforcement

ASIC Files Suit Against Westpac for Alleged Insider Trading

By Editors | 05/05/2021

ASIC says Westpac traded interest rate derivatives to pre-position itself while knowing it would be selected to execute a A$12bn interest rate swap hours later.

AML / KYC

US Lawmakers Call for ‘War-like Footing’ Against Corruption

By Editors | 05/05/2021

In a letter to Janet Yellen, two lawmakers have called for AML obligations to be expanded to hedge funds, private equity, and other professional enablers.

AML / KYC

AUSTRAC Orders Mutual Bank to Uplift AML Compliance

By Editors | 05/05/2021

Australian Military Bank is required to conduct a risk assessment, and then work to improve its KYC, transaction monitoring, EDD, and reporting systems.

AML / KYC

Taiwan FSC Fines Nan Shan Life Insurance Over Lax Controls

By Editors | 05/05/2021

The FSC found that 122 sales personnel paid premiums on behalf of clients with their own credit cards to earn rewards points offered by banks.

Enforcement

Singapore Court Jails Former CFO for Loan Fraud

By Ranamita Chakraborty | 05/05/2021

The former CFO of Coastal Oil Singapore conspired with three colleagues to deceive 8 banks into disbursing over $300mn in loans.

Crypto / Digital Assets

UPDATED – BaFin Says Binance Stock Tokens Violate Securities Laws

By Sanday Chongo Kabange | 05/05/2021

The tokens require the publishing of a prospectus, “minimum information required by law” for the sale of an investment product.