Enforcement

    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.

    Enforcement

    New Zealand FMA Proposes New Guidance on KiwiSaver Fees

    By Editors | 04/11/2020

    The proposed guidance sets out ongoing obligations for KiwiSaver schemes to regularly review their fees to ensure members not being charged unreasonable fees.

    Enforcement

    BaFin, FREP Were Deficient in Supervising Wirecard, says ESMA

    By Editors | 04/11/2020

    ESMA says it identified deficiencies, inefficiencies and legal and procedural impediments in the supervisory response to Wirecard between 2016 and 2018.

    Enforcement

    ASIC Secures A$10m in Refunds for Customers from Allianz

    By Sanday Chongo Kabange | 04/11/2020

    Up to 31,000 consumers have been remediated for misconduct relating to the sale of travel insurance through Allianz’s own website and those of its partners.

    Enforcement

    Korean Prosecutors Raid Brokerage Firms Over Lime Asset Mis-selling

    By Shruti Khairnar | 02/11/2020

    Investigators from Seoul’s prosecution office raided the headquarters of Shinhan Investment Corp, Korea Investment & Securities, and KB Securities last week.

    Enforcement

    KRX Probes Market Makers’ Compliance With Short Selling Rules

    By Editors | 02/11/2020

    The inspection will cover all 22 market makers, focusing on whether they conducted naked short selling and whether they violated the uptick rule.

    Enforcement

    CBA to Pay Penalty for Increasing Problem Gambler’s Credit Limit

    By Editors | 01/11/2020

    ASIC launched civil proceedings against CBA in March alleging that the bank failed to take account of a notification by a customer that he was a problem gambler.

    Enforcement

    MAS Bans Two Former Bankers for Fraud, Dishonest Conduct

    By Editors | 01/11/2020

    The former OCBC treasury advisor placed unauthorised FX trades in client accounts, while the former UOB relationship manager made unauthorised bank transfers.

    Enforcement

    SFC Suspends Licence of Mason Securities Representative

    By Editors | 30/10/2020

    The former licensed representative said she had forgotten to declare an external securities trading account initially, and “could not be bothered to do so subsequently”.

    Enforcement

    Singapore Courts Charge Two for Cheating, False Trading

    By Editors | 30/10/2020

    Ex-KTL Global CEO Tan Kheng Yeow and OCBC Securities trading rep Tan Chun Yong are said to have been involved in a conspiracy for false trading.

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