Enforcement

Enforcement

CSRC Issues Draft Rules Promoting ‘Honest’ Investment Banking

By Editors | 30/09/2021

The draft rules require investment banking intermediaries to strengthen risk control and strictly prohibit the use of below-market pricing to win business.

AML / KYC

Hong Kong Sees Spike in Investment Scam Losses – Report

By Editors | 29/09/2021

Victims lost HKD 2.5 billion from investment scams between January and July, a 20-fold increase compared to the same period last year.

Enforcement

Ex-CBIRC Official Took Bribes During Baoshang Takeover – Report

By Editors | 29/09/2021

Li Guorong is accused of taking bribes from entrepreneurs while serving as deputy head of a team appointed to take over Baoshang Bank.

Enforcement

Shenzhen Regulator Launches Probe into Evergrande Wealth

By Editors | 29/09/2021

The Shenzhen Financial Regulatory Bureau said a “thorough investigation” into Evergrande Wealth has been launched following investor demands for an inquiry.

Enforcement

Enforcement Should Drive Good Conduct, says HKEX’s Jon Witts

By Manesh Samtani | 28/09/2021

HKEX’s approach to enforcement is designed to drive better conduct, governance and compliance culture, says Head of Listing Enforcement Jon Witts.

AML / KYC

US DOJ Agrees to Release of Huawei’s Meng Wanzhou

By Editors | 27/09/2021

Under a deferred prosecution agreement, Meng admitted to making material misrepresentations to HSBC regarding Huawei’s operations in Iran.

AML / KYC

China Targets Corruption with New Supervision Law

By Sanday Chongo Kabange | 25/09/2021

Supervisors are asked to crack down on the use of offshore companies and underground banks to transfer illegal income and property involved in duty-related crimes.

Crypto / Digital Assets

PBOC Intensifies Crackdown on Cryptocurrency Activity

By Editors | 25/09/2021

Services for virtual currency transactions are deemed illegal, including those provided to Chinese residents by overseas crypto exchanges.

Enforcement

China: Ex-Citic Group Executive Gets 18 years Jail for Bribes

By Editors | 24/09/2021

Zhao Jingwen was sentenced to 18 years in prison and fined CNY 3.2 million for embezzlement and receiving CNY 5.5 million in bribes.