Enforcement

Enforcement

China Government Probes Ant Group IPO Approval Process

By Editors | 29/04/2021

Ant Group founder Jack Ma and his relationships with state firms and local officials are also being examined as part of the government’s investigation.

AML / KYC

UK Establishes New Global Anti-Corruption Sanctions Regime

By Manesh Samtani | 28/04/2021

The UK has made its first 22 designations under the new regime, including individuals in Russia, South Africa, Honduras, Nicaragua, Guatemala and South Sudan.

Enforcement

Shanghai Court Granted Jurisdiction to Hear Cross-border Cases

By Sanday Chongo Kabange | 27/04/2021

The Shanghai Financial Court is the second Chinese court allowed to handle disputes involving overseas securities and financial institutions.

AML / KYC

Hong Kong: Six Arrested for Laundering HK$2.5bn

By Sanday Chongo Kabange | 26/04/2021

The six arrested persons opened 60 personal accounts at various banks and made over 2,600 suspicious transactions.

Enforcement

RBI Restricts Amex, Diners Club for Data Storage Violations

By Editors | 26/04/2021

American Express and Diners Club were found to be non-compliant with the RBI’s 2018 directions requiring payment system data to be stored onshore.

Enforcement

Korea FSS Imposes Light Punishments on Shinhan Execs

By Editors | 26/04/2021

Shinhan Bank’s CEO and Shinhan Financial Group’s Chairman received lighter punishments than expected over the Lime mis-selling scandal.

Enforcement

SG Police Lay More Charges in Nickel Trading Fraud Case

By Editors | 26/04/2021

Ng Yu Zhi allegedly cheated five individuals into paying around S$8.8mn for nonexistent forward contracts purported to be for the sale of nickel to a metals trader.

Enforcement

Taiwan FSC Fines Fund Managers for Stock Manipulation

By Ranamita Chakraborty | 25/04/2021

The three fund managers bought shares in Far Eastern Department Store at the request of a former official who has since been charged with corruption.

Enforcement

FINMA Opens Probe Into Credit Suisse Archegos Losses

By Sanday Chongo Kabange | 24/04/2021

The Swiss regulator said it will appoint a third-party agent to investigate “possible shortcomings in risk management” at Credit Suisse.