ENFORCEMENT

Enforcement

MAS Publishes Monograph Detailing Enforcement Approach

By Manesh Samtani | 25/09/2018

Monograph outlines how MAS manages enforcement work in three areas: detection, investigations and in taking enforcement action.

Enforcement

China Details Penalties for Bond Underwriting Kickbacks

By Garima Chitkara | 21/09/2018

The CSRC will ban or impose penalties on firms engaging that help companies with low creditworthiness issue debt in exchange for under-the-table payments.

Enforcement

OSE, TSE Discipline MUFG Brokerage Unit for JGB Futures Manipulation

By Editors | 21/09/2018

Latest disciplinary action follows a FSA fine earlier this year, after a dealer manipulated the JGB futures market using the firm’s proprietary trading account.

Enforcement

SFC Fines Huatai Financial for Naked Short Selling

By Editors | 19/09/2018

Huatai Financial’s unintentional short sale of Great Wall Motor bonus shares in 2015 was as a result of inadequate systems and internal controls.

Enforcement

ASIC Pursues Civil Penalty for ANZ Disclosure Breach

By Manesh Samtani | 17/09/2018

ANZ failed to disclose in its 2015 capital raising that underwriters Citi and Deutsche took up one-third of its share placement.

Enforcement

Two ICBC Branches Under Investigation for Illegal Fundraising

By Manesh Samtani | 13/09/2018

The branches sold unregistered investment products to other banks to channel funds into companies beyond what regulatory lending caps allowed.

Capital / Liquidity

CBIRC Fines Reach Unprecedented Levels in Financial Deleveraging Campaign

By Garima Chitkara | 12/09/2018

The regulator has levied fines of over 4 billion yuan in the past 20 months, four times the 1 billion yuan in fines it levied in the previous 14 years.

Enforcement

Australian Banks Face ‘Largest Ever’ Class Action

By Editors | 12/09/2018

A series of class actions for millions of super fund customers could cost Australian financial institutions up to A$1bn.

Enforcement

ASIC’s Year Ahead to Focus on Conduct, Culture, Consumer Trust

By Garima Chitkara | 11/09/2018

ASIC Commissioner John Price laid out the regulator’s priorities regarding conduct and culture risk in the financial industry in the coming year.