Enforcement

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.

Enforcement

SFC Fines Credit Suisse Securities Over Market Making Errors

By Editors | 09/11/2020

Credit Suisse Securities submitted 17,000 erroneous market making quotes to the market in 8 minutes due to a logic error in its symbol mapping programme.

AML / KYC

SFC Eases Uncertainty Over National Security Law – Report

By Editors | 09/11/2020

Implementing US sanctions is unlikely to be considered a breach of the national security law. The SFC has dropped a plan to force cloud providers to share client data.

Enforcement

Second Ex-Chairman of Hengfeng Bank Gets Death Sentence

By Editors | 08/11/2020

The former chairman will have his sentence commuted to life in prison if he commits no further crime over the next two years.

Enforcement

SC Malaysia Wins MYR 3.1m in Insider Trading Case

By Sanday Chongo Kabange | 05/11/2020

The former senior partner of a law firm acquired shares in Worldwide Holdings in the months leading up to an announcement that the firm would be privatised.

Fintech / Regtech

MAS Targets Market Abuse, Misconduct, AML Control Breaches

By Editors | 04/11/2020

In its latest enforcement report, MAS highlights its work to strengthen early detection of market misconduct, including through Apollo, an augmented intelligence system.