Enforcement

Enforcement

ASIC Files Suit Against ANZ Over ‘Unlawful’ Credit Card Charges

By Editors | 31/05/2022

ANZ charged fees and interest to customers who withdrew funds that were shown as available on their credit card account balances.

Capital / Liquidity

RBNZ Commends Westpac for Improved Liquidity Risk Management

By Editors | 31/05/2022

The RBNZ says Westpac NZ has improved its liquidity risk management and risk culture by improving resourcing and governance.

Enforcement

ACCC Commences Legal Proceedings Against Mastercard Units

By Editors | 31/05/2022

The ACCC says Mastercard offered cheaper rates to over 20 major retail businesses if they used its own network to process transactions.

Enforcement

China Faces Protests in Henan Over Suspected Rural Bank Scams

By Editors | 30/05/2022

Bank customers in Henan province are demanding the return of billions of dollars of deposits after finding they were unable to withdraw their funds.

Enforcement

SEBI Raids Brokers in Axis Fund Front-running Probe

By Editors | 29/05/2022

Fund managers of Axis Mutual Fund shared trade information with outside brokers and other entities who traded on the information ahead of Axis funds.

Enforcement

Korea FSS to Extend Woori Bank Embezzlement Probe

By Editors | 29/05/2022

The FSS will seek to understand why Woori’s internal control system failed to detect embezzlement by its employee over ten years.

Securities / Derivatives

SSE Proposes to Increase Transparency of Disciplinary Processes

By Editors | 28/05/2022

The SSE is revising its rules on disciplinary actions, reviews and hearings to enhance transparency, standardisation and efficiency.

Capital / Liquidity

MAS Raises OCBC Capital Requirement for Scam Incident

By Editors | 27/05/2022

OCBC has to apply a 1.3x multiplier to its RWA for operational risk, which translates to additional regulatory capital of S$330mn.

AML / KYC

Glencore to Pay $1.5b to Settle Bribery & Manipulation Probes

By Manesh Samtani | 26/05/2022

The civil and criminal penalties and forfeitures will resolve a decade-long scheme to bribe foreign officials in seven countries and an oil price manipulation conspiracy.