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Enforcement
Nomura Establishes Internal Team to Probe Archegos Loss
By Sanday Chongo Kabange | 13/04/2021
Nomura has set up the team to look into the bank’s risk management practices. It plans to disclose details of Archegos loss in late April.
AML / KYC
RBNZ Establishes Standalone Enforcement Department
By Ranamita Chakraborty | 13/04/2021
The new department will work to incentivise and manage prudent behaviour as well as hold institutions to account for non-compliance.
Enforcement
Singapore: Former Banker Admits to Cheating Seven People
By Editors | 12/04/2021
Han Delong worked for UOB between August 2014 and December 2015, and for OCBC between March 2016 to January 2017.
Enforcement
Regulators Order Ant Group to Establish Financial Holding Company
By Manesh Samtani | 12/04/2021
Ant Group will have to accept greater regulatory supervision, improve its corporate governance, and separate some of its businesses.
AML / KYC
Singapore Court Charges Five Over Shell Company Activity
By Ranamita Chakraborty | 12/04/2021
Between 2016 and 2019, eight police reports were filed by victims who were deceived into wiring around $1.7mn into the bank accounts of Singapore-registered shell companies.
Enforcement
ASIC Seeks Penalties from Westpac Over Credit Insurance Sales
By Editors | 12/04/2021
ASIC says Westpac debited premiums for consumer credit insurance from customers who did not agree to purchase the products.
AML / KYC
SEC Thailand Allows Crypto Exchange Bitkub to Resume Services
By Editors | 12/04/2021
Bitkub has been allowed to resume accepting new clients. A warning was issued against Binance. Huobi was ordered to suspend services.
Enforcement
Australian Court Orders Penalty Against CBA for Overcharged Interest
By Editors | 10/04/2021
CBA was ordered to pay A$7mn for a systems error that resulted in over 1,500 customers being charged a higher interest rate on overdraft accounts.
Enforcement
Malaysian Court Orders Restitution for 2009 Investment Scheme
By Editors | 10/04/2021
The Securities Commission had filed a civil suit against RBTR Asset Management and five others in 2009 for misleading investors.
AML / KYC
Sydney Court Jails Man for Cryptocurrency Money Laundering
By Sanday Chongo Kabange | 08/04/2021
The man used other people’s identities to set up accounts with a cryptocurrency provider, which he used to withdraw stolen bitcoin.
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