ENFORCEMENT

    Enforcement

    PBOC Sets Up New Bureau to Oversee Financial Regulation

    By Editors | 04/02/2019

    China’s central bank has set up a new macro-prudential management bureau to monitor financial systemic risks, draft rules and advise on currency issues.

    Enforcement

    India Launches Money Laundering Probe Against Former ICICI Bank Chief

    By Editors | 03/02/2019

    India’s Enforcement Directorate will seek to determine if alleged kickbacks generated in loan deals worth $262mn were laundered to create tainted assets.

    AML / KYC

    Chinese Supreme Court Directs Police on Illegal Fundraising Crackdown

    By Editors | 31/01/2019

    Police officers found to be negligent in enforcing against illegal fundraising through online channels could face criminal charges.

    Enforcement

    UPDATED – Malaysia SC Fines Deloitte for 1MDB-Linked Auditing Breaches

    By Editors | 31/01/2019

    SC says Deloitte failed to immediately report irregularities which may have had a material effect on the ability of a 1MDB unit to repay bondholders. Deloitte is seeking a review of the decision.

    Enforcement

    Vietnam’s SSC to Beef up Handling of Stock Market Violations

    By Editors | 25/01/2019

    The SSC is coordinating with Vietnam’s Ministry of Public Securities to ensure violators face criminal charges in addition to the existing administrative sanctioning regime.

    Enforcement

    Australian Regulators Under Scrutiny for Accepting Industry Gifts

    By Garima Chitkara | 23/01/2019

    ASIC was reportedly found to have accepted expensive gifts and hospitality from financial firms including Macquarie Bank even as it was under multiple investigations by the corporate regulator.

    Enforcement

    S. Korean Regulator Fines Four Global Banks for Rigging FX Derivatives

    By Editors | 22/01/2019

    South Korea’s Fair Trade Commission has fined JP Morgan, HSBC, Deutsche Bank and StanChart a combined $613,000 for rigging forex derivative prices.

    Enforcement

    ASIC Officials Fear Excessive Focus on Litigation – Report

    By Editors | 21/01/2019

    While ASIC officials talk up plans to fund more court cases, behind the scenes they are reportedly concerned about the community backlash and loss of confidence if cases are lost.

    Enforcement

    NSE Chairman Resigns Amid Bribery Probe

    By Editors | 14/01/2019

    NSE chairman Ashok Chawla was named in a charge sheet related to a bribery case involving telecom operator Aircel and its Malaysian investor Maxis.

    Enforcement

    RBI Imposes Monetary Penalty on Citibank India

    By Editors | 14/01/2019

    The ₹30mn penalty is based on deficiencies in regulatory compliance related to ‘fit and proper’ requirements for bank directors.

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