Enforcement

Enforcement

BaFin Faces Criminal Probe Over Wirecard Response

By Sanday Chongo Kabange | 14/04/2021

BaFin has been under fire since mid-last year for failing to properly respond to multiple red flags signalling an accounting fraud at Wirecard.

AML / KYC

MAS Penalises Bank J. Safra Sarasin for SoW/SoF Failures

By Manesh Samtani | 14/04/2021

The bank failed to establish the source of wealth and source of funds of customers and beneficial owners of higher-risk customers, MAS said.

AML / KYC

HSBC Agrees to Share Documents in Meng Extradition Case

By Editors | 14/04/2021

A Hong Kong judge has approved an agreement between Huawei and HSBC that includes document sharing by the bank, with some redactions.

Enforcement

SEBI Fines Yes Bank, Three Others for Mis-selling AT1 Bonds

By Editors | 13/04/2021

SEBI says Yes Bank misled individual investors into buying risky AT1 bonds and did not inform them of the risks involved or conduct risk profiling.

Enforcement

Australian Charged With Insider Trading Over Diamond Discovery

By Editors | 13/04/2021

The man traded while in possession of inside information relating to a diamond discovery by Lonrho Mining in Africa in 2012.

Enforcement

Nomura Establishes Internal Team to Probe Archegos Loss

By Sanday Chongo Kabange | 13/04/2021

Nomura has set up the team to look into the bank’s risk management practices. It plans to disclose details of Archegos loss in late April.

AML / KYC

RBNZ Establishes Standalone Enforcement Department

By Ranamita Chakraborty | 13/04/2021

The new department will work to incentivise and manage prudent behaviour as well as hold institutions to account for non-compliance.

Enforcement

Singapore: Former Banker Admits to Cheating Seven People

By Editors | 12/04/2021

Han Delong worked for UOB between August 2014 and December 2015, and for OCBC between March 2016 to January 2017.

Enforcement

Regulators Order Ant Group to Establish Financial Holding Company

By Manesh Samtani | 12/04/2021

Ant Group will have to accept greater regulatory supervision, improve its corporate governance, and separate some of its businesses.