Enforcement

Enforcement

ASIC Orders Fund Manager to Stop Misleading Radio Advertising

By Editors | 22/11/2020

The stop order prohibits Skyring Funds Management from comparing its fixed income fund to bank-issued deposit products in advertising.

Enforcement

China Bond Default Shock Prompts NAFMII Underwriter Probe

By Manesh Samtani | 19/11/2020

Haitong Securities, Industrial Bank, China Everbright Bank, Zhongyuan Bank are suspected of violations, as recent defaults prompt concerns over the health of SOEs.

Crypto / Digital Assets

Australian Police Charge Ex-Promoter of Failed Crypto Platform

By Sanday Chongo Kabange | 19/11/2020

The former BitConnect promoter is said to have operated an unregistered managed investment scheme and provided unlicensed financial advice.

Enforcement

Taishin Bank Employee Arrested in Taiwan for Embezzlement

By Sanday Chongo Kabange | 19/11/2020

The employee allegedly misappropriated over $10.5mn. The FSC described the case as “the biggest embezzlement case in Taiwan’s banking history”.

Enforcement

CSRC Pledges to Improve Listed Company Governance, Supervision

By Sanday Chongo Kabange | 15/11/2020

A targeted campaign will be launched to improve supervisory oversight in the capital market and enhance corporate governance in listed companies.

Enforcement

Korea FSS Seeks to Suspend Former Brokerage CEOs Over Lime Mis-selling

By Editors | 13/11/2020

The FSS has decided to order the suspension of the former CEOs of Shinhan Investment, Daishin Securities and KB Securities over the mis-selling of Lime Asset Management funds.

Enforcement

Korea FSS Estimates Optimus Fund Losses Could Reach $300m

By Editors | 11/11/2020

The FSS has estimated that 160bn won of investor funds has vanished and only up to 15% of the remaining 350bn won could be recoverable.

AML / KYC

Philippine Authorities Probe Financial Transactions Linked to Wirecard

By Sanday Chongo Kabange | 11/11/2020

The National Bureau of Investigation is examining the financial transactions of a law firm office that appears to have provided legal services to Wirecard and Jan Marsalek.

AML / KYC

US Sanctions Four More Officials Over Hong Kong National Security Law

By Sanday Chongo Kabange | 10/11/2020

China’s Foreign Ministry says the move is a violation of the basic norms governing international relations, urging the US to withdraw the sanctions.