Enforcement

Enforcement

ICAC Charges Former Dah Sing Bank Manager with Fraud

By Editors | 12/08/2020

The former financial planning manager falsely represented to a client that taking out an insurance policy was a prerequisite for opening a corporate bank account.

Enforcement

SEBI to Only Accept Complaints through Online Platform

By Editors | 12/08/2020

SEBI’s web-based centralised grievance redressal system known as SCORES has been in operation for 9 years. A new mobile app was launched in March.

AML / KYC

New Zealand FIU Boasts ‘Excellent Outcomes’ in June

By Editors | 12/08/2020

June saw the restraint of NZ$140mn from alleged money launderer Alexander Vinnik and the seizure of over 30 high-end cars from outlaw motorcycle gangs.

AML / KYC

China Imposes Reciprocal Sanctions Against US Officials

By Editors | 10/08/2020

“China has decided to impose sanctions on those individuals who behaved badly on Hong Kong-related issues,” said a spokesperson, without specifying what the sanctions would entail.

Enforcement

CBIRC Fines Industrial Bank for Illegal Use of Interbank Funds

By Editors | 10/08/2020

Industrial Bank’s Shanghai branch used the funds for equity investments, government financing, and to pay land transfer fees.

Enforcement

Singapore’s Central Depository Fined for Data Privacy Breaches

By Editors | 10/08/2020

211 dividend cheques were sent to outdated mailing addresses, containing client names, NRIC numbers, CDP account numbers, and details of the securities held.

Enforcement

CBIRC Fines Two Major Banks for Data Privacy Breaches

By Editors | 09/08/2020

China Merchants Bank and Bank of Communications were fined for failing to protect the personal data of credit card customers.

Enforcement

HK Bourse Seeks Broader Powers to Punish Misconduct

By Editors | 09/08/2020

Hong Kong’s stock exchange proposes to enhance its disciplinary regime to enhance its ability to hold accountable and sanction senior managers and directors responsible for misconduct.

Enforcement

US Regulators Unveil Plan to Deal With Chinese Listings

By Editors | 08/08/2020

A presidential working group which includes the chairmen of the SEC, CFTC and Fed has recommended changes to US listing rules to require access to companies’ audit papers.