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AML / KYC
Goldman US Penalty Over 1MDB to be Announced ‘Within Days’
By Editors | 20/10/2020
Goldman Sachs Group has reportedly reached a more than $2bn settlement with the US DOJ over its role in Malaysia’s 1MDB scandal.
Enforcement
SFC Imposes 24-month Market Ban for Takeovers Code Breach
By Sanday Chongo Kabange | 20/10/2020
The mandatory general offer obligation under the Takeovers Code was triggered 20 times by AV Concept Holdings chairman and his concert parties.
Enforcement
Australian Court Orders Penalty Against NAB Over Introducer Programme
By Editors | 19/10/2020
The penalty was discounted due to NAB’s cooperation with ASIC and its admissions that it contravened the law by using unlicenced home loan referrers.
Enforcement
ASIC, Volkswagen Financial Services Settle Responsible Lending Case
By Sanday Chongo Kabange | 19/10/2020
Volkswagen Financial Services Australia will provide remediation worth an estimated A$4.7mn to approximately 1,800 loan consumers.
Enforcement
FSS Korea to Launch Probe Into Samsung Securities
By Editors | 18/10/2020
Samsung Securities allegedly intervened to secure support from shareholders of a Samsung entity for a 2015 merger while also acting as adviser to the other party in the transaction.
Enforcement
Hong Kong: CMBC Capital, Directors Penalised for Late Disclosure
By Editors | 18/10/2020
CMBC Capital did not make information about significant improvement in the company’s financial performance public in a timely manner.
AML / KYC
Global Tax Evasion Probe Targets Euro Capital Bank, Puerto Rico
By Manesh Samtani | 18/10/2020
Euro Pacific Bank, founded in 2017 by Peter Schiff and Mark Anderson, is said to be used by up to 400 Australian nationals, about 100 of which are considered “high-risk”.
Enforcement
US Considers Adding Ant Group to Trade Blacklist – Report
By Editors | 15/10/2020
US officials reportedly fear the Chinese government could access sensitive banking data belonging to future US users of the Alipay payment app.
AML / KYC
HKAA Sanctions Mark Formal Warning to Global Banks
By Manesh Samtani | 15/10/2020
International financial institutions conducting ‘significant transactions’ with the ten sanctioned individuals could face secondary sanctions.
AML / KYC
AUSTRAC Decides Against Afterpay Regulatory Action
By Editors | 15/10/2020
Afterpay has uplifted its AML/CTF compliance framework and financial crime function, and completed all remediation necessary to ensure compliance.
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