Enforcement

AML / KYC

Singapore Authorities Issue First Charges in Wirecard Probe

By Editors | 08/08/2020

A director of Citadelle Corporate Services is said to have “wilfully and with intent to defraud” stated false balances held in escrow on behalf of Wirecard in 2016 and 2017.

Enforcement

CEO Faces 112 Charges of Market Rigging in Singapore

By Editors | 06/08/2020

CEO and chairman of SGX-listed KS Energy is alleged to have engaged in conduct to push up his company’s stock and create a misleading appearance of its price.

Enforcement

SGX RegCo to Enhance Enforcement, Whistleblowing Frameworks

By Manesh Samtani | 06/08/2020

The proposed enforcement framework will seek to achieve swifter outcomes from the disciplinary process. Whistleblowing policies will become mandatory for listed issuers.

AML / KYC

Malaysia Jails Eight Over Illegal Deposit-taking Scheme

By Editors | 05/08/2020

Eight individuals were sentenced to between three and nine years’ jail. Total fines issued, including against three companies, amount to $310mn.

Enforcement

CBA Increases Remediation Provisions Ahead of Full-Year Results

By Editors | 05/08/2020

Customer remediation provisions have been increased by A$300mn, bringing CBA’s total remediation bill to A$834. The full-year results are due on 12 August.

Enforcement

Ex-GM of Hong Kong Investment Firm Charged with Theft

By Editors | 04/08/2020

The former general manager of Max Dragon Investment is alleged to have stolen HK$22mn from the company bank account between December 2012 and May 2014.

Enforcement

Australia: Former Financial Adviser Jailed for Six Years

By Sanday Chongo Kabange | 04/08/2020

Graeme Walter Miller was sentenced to six years’ imprisonment for misappropriating close to A$2mn for his own purposes.

Enforcement

Chinese Regulators Complete Luckin Probe, Confirm Fraud

By Editors | 04/08/2020

The Ministry of Finance and State Administration for Market Regulation both intend to impose administrative penalties against Luckin Coffee for fraud.

AML / KYC

OFAC Sanctions Chinese Entity Over Human Rights Abuses

By Editors | 04/08/2020

The XPCC is considered by OFAC to be a paramilitary organisation with large commercial operations that that are likely to be impacted by US sanctions.