Enforcement

    Enforcement

    ASIC Seeks Penalties from CBA for Overcharged Interest

    By Editors | 17/02/2021

    Due to a systems error, CBA charged more than 1,510 customers a higher interest rate than they were advised, amounting to A$2.2 million in overcharged interest.

    Enforcement

    ASIC Issues Update on Advice Compensation Paid by Banks

    By Editors | 16/02/2021

    Australia’s largest financial institutions have paid over A$1.24 billion to compensate customers for fees-for-no-service misconduct and non-compliant advice.

    Enforcement

    Chinese Premier Signs Decree on Preventing Illegal Fundraising

    By Editors | 15/02/2021

    New regulations set to take effect in May will enhance monitoring and penalties for illegal fundraising activities, with an emphasis on prevention and early detection.

    AML / KYC

    AFP Charges Australian Man in Money Mule Recruitment Case

    By Editors | 15/02/2021

    The man is accused of recruiting individuals to unwittingly serve as money mules to launder the proceeds of crime in return for a commission.

    Enforcement

    CBIRC Punishes Staff for Violating Personal Investment Rules

    By Editors | 15/02/2021

    The regulator found that 429 individuals engaged in prohibited financial activity involving CNY 160 million and has taken action in 106 cases so far.

    Enforcement

    ASIC Outlines Approach to Regulating Superannuation Trustees

    By Editors | 14/02/2021

    ASIC’s Jane Eccleston says trustees of non-public offer funds need to apply for an AFS licence or vary their existing licences by 30 April 2021.

    AML / KYC

    Australian Court Jails Car Wash Owner for Money Laundering

    By Editors | 14/02/2021

    The man used express cash deposit facilities at Perth bank branches to help launder more than A$5.6mn for an alleged criminal syndicate.

    Enforcement

    China Instructs Deloitte to Investigate Alleged Auditing Violations

    By Editors | 13/02/2021

    Auditing violations alleged by a whistleblower include improper conduct by certain Deloitte staff members in performing the audits of five companies in 2016 and 2017.

    Enforcement

    CSRC Strengthens Industry Controls to Prevent Insider Trading

    By Editors | 13/02/2021

    Listed companies are required to establish a system for the registration and management of individuals who possess inside information.

    Enforcement

    SEBI Penalises NSE, Former Officials in Colocation Case

    By Editors | 12/02/2021

    SEBI says NSE failed to ensure fair and equitable access by trading members subscribing to its tick-by-tick data feed system.

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