Enforcement

AML / KYC

Malaysia Anti-Corruption Commission Files New 1MDB-related Charges

By Editors | 13/02/2020

Malaysia has filed new charges against fugitive financier Jho Low and two PetroSaudi International directors over their alleged roles in the 1MDB scandal.

Enforcement

SGX RegCo Enhances Market Surveillance with Artificial Intelligence

By Editors | 12/02/2020

The introduction of AI will help isolate unusual activity by learning from historical trading patterns and filtering out noise.

Enforcement

US Charges 4 Chinese Military Officers for Equifax Hack

By Editors | 12/02/2020

The four Chinese nationals are charged for breaking into Equifax’s computer systems to steal US citizens’ personal data and sensitive trade secrets.

Enforcement

Advice Remediation at Six Biggest FIs Reaches A$750m: ASIC

By Editors | 12/02/2020

NAB has paid over A$203mn to over 588,000 customers as compensation for non-compliant advice and fees-for-no-service misconduct.

AML / KYC

SFC Fines BMI Securities, Suspends RO for AML Breaches

By Editors | 11/02/2020

The SFC has fined BMI Securities HK$3.7mn and suspended one of its responsible officers for failures to comply with AML/CFT obligations.

Enforcement

RBNZ Launches Streamlined External Whistleblowing Policy

By Editors | 11/02/2020

“Whistleblowing is a critical avenue for those wanting to shine a light on wrongdoing within regulated entities,” said RBNZ head of supervision Andy Wood.

AML / KYC

Liar’s Poker – The 1MDB Version

By Peter Guy | 11/02/2020

1MDB sorely tested principles-based regulation and compliance at Goldman Sachs. But, the bank was likely set up as a victim from the very beginning, says Peter Guy.

Enforcement

Australia Passes Bills to Enhance Consumer Protections, Strengthen ASIC

By Editors | 10/02/2020

The bills introduce a best-interests duty for mortgage brokers, ban unfair contract terms in insurance, and enable ASIC to more effectively enforce existing laws.

Enforcement

SFC Bulletin Shows Sponsor Conduct Still Top-of-mind

By Editors | 07/02/2020

The Regulatory Bulletin offers case studies illustrating the SFC’s key areas of concern and recent regulatory interventions in IPO applications and corporate transactions.