Enforcement

    AML / KYC

    Singapore Banker Faces 94 Charges for S$1.9m Fraud

    By Editors | 08/10/2019

    The former banker allegedly told his victims their funds would be placed as fixed deposits or in financial products, resulting in client losses over S$1.9mn.

    Enforcement

    Two Singaporeans Jailed for Spoofing Derivatives Market

    By Editors | 08/10/2019

    Two former directors of proprietary trading company Joerik Financial were jailed for fraud and dishonest conduct in relation to the trading of futures contracts.

    Enforcement

    Korean Court Orders CoinOne to Compensate Hacked Client

    By Editors | 07/10/2019

    South Korean crypto exchange CoinOne has been ordered to repay a client after a hacker who stole his login information was able to withdraw 25mn won over the withdrawal limit.

    Enforcement

    China Antigraft Agency Concludes Probe into Former CSRC Chief

    By Editors | 07/10/2019

    Liu Shiyu has been removed from his government post and had his illegal gains confiscated, but he will remain a member of the CCP due to his cooperation in the probe.

    Enforcement

    SFC Fines SEAVI Advent Ocean Private Equity HK$1mn

    By Editors | 07/10/2019

    The SFC has reprimanded and fined SEAVI Advent Ocean Private Equity for allowing unlicensed individuals to perform regulated functions, in breach of the Code of Conduct.

    Enforcement

    NAB Sets Aside Additional Remediation Provisions

    By Editors | 02/10/2019

    Combined with what has already been set aside, the new A$832mn in provisions for customer-related remediation brings total provisioning to over A$2bn.

    Enforcement

    India: PMC Bank Managing Director Confesses to Wrongdoing

    By Editors | 02/10/2019

    PMC Bank’s now-suspended managing director has reportedly confessed that the bank’s loan exposures went unreported for over six years.

    Enforcement

    New Zealand to Introduce New Conduct Oversight Regime

    By Editors | 27/09/2019

    New legislation to implement the regime is expected by year-end, empowering the FMA with stronger enforcement tools and the ability to impose higher penalties for conduct breaches.

    Capital / Liquidity

    RBI Caps Withdrawals at Failing PMC Bank, Prompting Panic

    By Editors | 26/09/2019

    The RBI has ordered the troubled cooperative bank to cap withdrawals at 1,000 rupees per account, prompting panic, protests and promises of legal action from customers.

    Enforcement

    RBNZ to Start Publishing Regulatory Breaches by Banks

    By Editors | 25/09/2019

    The RBNZ will start publishing banks’ regulatory breaches on its website next year in a bid to improve transparency and market discipline.

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