Enforcement

Securities / Derivatives

CSRC Forms Inter-agency Group to Rein in Capital Market Crime

By Editors | 18/09/2021

The group will enhance coordination between the central and local government agencies to better enforce against and punish capital markets misconduct.

Enforcement

ACCC Launches Formal Investigation into Apple Pay

By Editors | 17/09/2021

Cards held in a third-party wallet such as a bank app can pay in-store only if they are routed through Apple Pay for a cost.

Enforcement

Philippine Lawmaker Introduces Bill to Tackle Rising Cybercrime

By Ranamita Chakraborty | 17/09/2021

The bill requires banks and non-bank FIs to “exhaust all means to ensure that victims are able to recover their monetary loss, if any”.

Enforcement

SEBI to Shorten Time Allowed to Settle Enforcement Proceedings

By Editors | 16/09/2021

SEBI proposes to reduce the timeline allowed for entities to file applications to settle enforcement proceedings from 180 to 60 days.

Enforcement

CBA Faces Criminal Charges Over Consumer Credit Insurance Sales

By Editors | 16/09/2021

Commonwealth Bank plans to plead guilty to making false or misleading representations to customers about insurance policies.

Enforcement

Hong Kong ICAC Files Criminal Charges Against Former AXA Agents

By Editors | 15/09/2021

Three ex-insurance agents allegedly conspired to defraud AXA of HK$1.2mn in commissions and bonuses, and to launder over HK$2.7mn in crime proceeds.

Enforcement

PCAOB Fines KPMG Australia Over Training-related Misconduct

By Editors | 15/09/2021

Cheating in online training tests was found to be widespread within the audit practice. KPMG Australia sanctioned 1,131 individuals.

Enforcement

S. Korean Financial Firms Push Back Against Executive Accountability

By Ranamita Chakraborty | 15/09/2021

Six industry bodies have filed a joint request asking regulators to grant their boards more autonomy over their internal affairs rather than punishing their executives.

Enforcement

SEBI Settles YES Bank Case of Selective Disclosures

By Editors | 15/09/2021

YES Bank allegedly made selective disclosures regarding its asset quality, and did not disclose regulatory breaches identified by the RBI.