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Enforcement
Seoul Court Sentences Ex-Shinhan Exec to Eight Years’ Jail
By Sanday Chongo Kabange | 29/09/2020
The former executive was convicted for accepting bribes, deceiving investors, concealing losses in Lime Asset Management fund products.
Enforcement
SFC Fines China Everbright Over Expired Standing Authority
By Editors | 29/09/2020
The standing authority used to pledge client securities to obtain credit lines from banks was not renewed due to a miscommunication between compliance teams.
Enforcement
SFC, IA Sign New MoU on Supervisory Cooperation
By Editors | 28/09/2020
The MoU covers case referrals, joint inspections and investigations, and sharing of information pertaining to products and relevant entities or key persons.
Enforcement
Singapore Police Lay Second Charge Against Hin Leong Founder
By Editors | 28/09/2020
The second charge is for a forged email that was used alongside an inter-tank transfer certificate to secure more than $56mn in trade financing.
Enforcement
Former Citic Bank Exec Sentenced to 15 Years’ Jail for Bribery
By Editors | 26/09/2020
The conviction is said to be linked to a criminal case involving the head of a Citic Group asset management subsidiary.
Enforcement
SEBI Quadruples Penalties Against CRAs Over IL&FS Failures
By Editors | 26/09/2020
In December, SEBI issued INR 2.5 million penalty orders against ICRA, India Ratings & Research and Care Ratings. This has been raised to INR 10 million.
Enforcement
New Zealand FMA Warns of Action Against Poor Conduct
By Editors | 25/09/2020
There are no excuses for conduct that presents the risk of harm to investors, customers and the integrity of the markets, says FMA chief Rob Everett.
AML / KYC
Westpac, AUSTRAC Agree A$1.3bn Penalty for AML Breaches
By Manesh Samtani | 24/09/2020
If the Federal Court of Australia determines the penalty is appropriate, it will represent the largest ever civil penalty in Australian history.
Securities / Derivatives
FMA Blocks CLSA Premium NZ From Offering Derivatives
By Editors | 24/09/2020
The licence conditions will remain in place until CLSA Premium NZ lodges its audit and assurance reports for 2019.
AML / KYC
Westpac, AUSTRAC Close to Settlement Over AML Breaches
By Editors | 24/09/2020
The final penalty amount, which could reach as high as A$1.5bn, is expected to be announced at a joint press conference in coming days.
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