ENFORCEMENT

Enforcement

China to Station Anti-Graft Officials at State Banks, Insurers

By Editors | 09/11/2018

China is planning to install anti-graft officials at some of the largest state-owned financial institutions in the country, according to an SCMP report.

AML / KYC

US Prosecutors Charge Goldman Bankers Over 1MDB Scandal

By Garima Chitkara | 07/11/2018

Malaysian politician Anwar Ibrahim told Bloomberg it would be “inexecusable” if the bank was itself found complicit in money laundering and bribery related to the state development fund.

Enforcement

S. Korea Probes JPMorgan, Citibank in Unresolved Rate Rigging Cases

By Editors | 06/11/2018

JPMorgan and Citibank are still being investigated in an ongoing price manipulation probe by the Fair Trade Commission and FSS which dates back to 2011, reports local media.

Enforcement

APRA Gets A$60mn in New Funding, Byres 5-Year Reappointment

By Manesh Samtani | 05/11/2018

Following Royal Commission findings that APRA never took a financial institution to court, the agency said it needed more funding to take a more aggressive enforcement approach.

Enforcement

New Financial Complaints Body Launches in Australia

By Editors | 02/11/2018

AFCA will influence reform in financial services by raising standards and improving internal practices to reduce and resolve disputes, said the body’s independent chair Helen Coonan.

Securities / Derivatives

S. Korea Scales Up Stabilisation Fund as Market Hits 22-Month Low

By Manesh Samtani | 30/10/2018

The 500 billion won fund will start investing in the KOSDAQ from November. Separately, market participants will establish an emergency monitoring system to better respond to instability.

Enforcement

Taipei Fubon Bank Fined as Two Officers Misappropriate Client Funds

By Editors | 29/10/2018

The FSC has fined the bank $129,000 for internal control failures that allowed two of its officers to misappropriate client funds, and ordered it to dismiss the officers responsible.

Enforcement

ASIC to Begin Embedding Staff within Banks Starting with CBA

By Garima Chitkara | 26/10/2018

ASIC officials will begin working at CBA starting from next week and will go in and out of other institutions, focusing on institutional behaviour and decision making.

Enforcement

CBIRC Fines 13 Lenders for Failing to Monitor Consumer Loan Borrowers

By Editors | 26/10/2018

The regulator is trying to prevent the use of consumer credit in speculative investments as part of its efforts to curb risks to the financial system.