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Enforcement
Korean Bankers Grow Fearful of ‘Unilateral’ Regulatory Penalties
By Sanday Chongo Kabange | 11/03/2021
Korea Federation of Banks chairman says the punishments imposed against executives whose banks sold Lime funds are seen by many as a way to shift blame.
AML / KYC
FSC Korea Proposes New Penalty Standards for VASPs
By Editors | 11/03/2021
FIs and VASPs can be penalised for failing to report and maintain records of suspicious transactions, and failures to properly manage customers’ transactions records.
Enforcement
APRA Accepts Court Enforceable Undertaking from Allianz
By Editors | 11/03/2021
Allianz Australia acknowledges previous risk and compliance weaknesses and emphasises its commitment to addressing these issues.
Enforcement
FSS Chief Faces Resignation Calls over Personnel Management
By Ranamita Chakraborty | 09/03/2021
Yoon Suk-heun, whose three-year term ends in two months, allegedly promoted certain officials who had been punished for hiring irregularities.
Enforcement
Australian Court Penalises Dover Financial Advisers for Misconduct
By Editors | 09/03/2021
The penalty is part of the fallout from a 2019 federal court judgment that Dover Financial Advisers engaged in “false, misleading or deceptive conduct”.
Enforcement
US SEC Forms Task Force to Pursue ESG-related Misconduct
By Editors | 08/03/2021
The task force’s initial focus will be to identify material gaps or misstatements in issuers’ disclosure of climate risks under existing rules.
AML / KYC
John McAfee Indicted for Crypto-related Fraud, Money Laundering
By Sanday Chongo Kabange | 08/03/2021
McAfee and his associate allegedly used their large Twitter following to promote altcoins and ICOs to investors through a so-called pump-and-dump scheme.
Enforcement
SEBI Directs MIIs to Establish Controls to Prevent Market Abuse
By Editors | 08/03/2021
Stock exchanges, clearing corporations and depositories are asked to establish a code of conduct and institutional mechanism to prevent fraud and market abuse.
Enforcement
HK Police Arrest 12 Members of Ramp-And-Dump Syndicate
By Editors | 08/03/2021
The SFC has frozen securities accounts holding an estimated HK$860mn in ramp-and-dump proceeds, while the Police have seized an additional HK$89mn.
Enforcement
Ripple, Top Execs File Responses to SEC Complaint
By Manesh Samtani | 06/03/2021
At meetings with crypto trading platforms as recently as 2019, SEC staff did not indicate it may have considered XRP a security, Ripple says.
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