Enforcement

AML / KYC

Philippines: 26 Groups Jointly Call for Easing of Bank Secrecy Law

By Ranamita Chakraborty | 02/06/2021

The groups say the Philippines lags the world on bank secrecy and allows politicians and other government officials to hide unexplained wealth.

AML / KYC

Addressing Sanctions Risk in Maritime Trade

By Manesh Samtani | 02/06/2021

Banks facilitating transactions involving maritime trade must put in place systems and processes to detect illicit activity that could result in a breach of sanctions regulations.

AML / KYC

Why Asia Needs to Know About a German Supply Chain Law

By Elke Biechele. RisikoTek | 01/06/2021

A more evidence-driven approach to supply chain due diligence is needed as human rights and environmental risk come into focus, writes Elke Biechele.

Enforcement

APRA Targets Risk Culture in Superannuation Sector

By Ranamita Chakraborty | 31/05/2021

APRA is piloting a risk culture survey with plans to roll it out to a number of superannuation entities in 2022.

Enforcement

ASIC Files Federal Court Suit Against AMP Companies

By Editors | 30/05/2021

ASIC has taken court action against AMP for charging deceased customers insurance premiums and advice fees. AMP has already remediated the impacted customers.

Enforcement

Philippine Court Jails Broker for Illegal Trading in 1999

By Editors | 30/05/2021

The court’s decision represents the first conviction won by the SEC after two decades of pursuing stockbrokers and investors linked to the case.

Enforcement

CSRC Chongqing Bureau Director Removed for Corruption

By Editors | 29/05/2021

The CCDI and CSRC said corruption and bribery ran throughout Mao Bihua’s career. The case has been referred to prosecutors.

Enforcement

ASIC Files Criminal Charges Against ME Bank

By Editors | 29/05/2021

ME bank made “false or misleading” representations in home loan customer communications and failed to give timely notice of changes to the loan terms.

Enforcement

FSC Korea Provides No-Action Relief on Consumer Protection Law

By Editors | 29/05/2021

Action will not be taken against violations of regulations introduced or strengthened by the new Financial Consumer Protection Act until 24 September.