ENFORCEMENT

Enforcement

Market Conduct Committee Calls for Greater Enforcement Powers for SEBI

By Garima Chitkara | 13/08/2018

A committee looking at fair market conduct has proposed greater powers for SEBI to go after insider trading, including the power to intercept phone and electronic communications.

Enforcement

UPDATED – CSRC Hits Celebrity Trader with $260mn Market Manipulation Penalty

By Editors | 13/08/2018

Celebrity trader Gao Yong used his control over 16 securities accounts to manipulate stock prices, profiting by almost CNY 900 million in just six months.

Enforcement

ASIC Gets A$70mn, New Powers to Boost Enforcement Capabilities

By Garima Chitkara | 13/08/2018

Australia’s corporate regulator will embed supervisors in large financial institutions to monitor banks’ actions and decision making.

AML / KYC

Former Macquarie Consultant Jailed for Money Laundering, Tax Evasion

By Manesh Samtani | 13/08/2018

Anthony Castagna and his accountant cousin Robert Agius conspired to have money paid by Macquarie for consulting funneled through offshore entities in Vanuatu to evade tax in Australia.

Enforcement

ASIC Plan to Embed Staff Could Impede Banking Function

By Peter Guy | 13/08/2018

ASIC’s plan to embed its own staff as officers at major Australian banks will affect risk taking and how the Australian public is served by the financial services industry.

Enforcement

Fees-for-no-service Remediation to Top A$850mn – ASIC

By Manesh Samtani | 09/08/2018

CBA has paid or offered compensation over A$118 million so far, with over A$25 million more provisioned for future compensation.

Enforcement

PBOC Imposes More Fines on Payments Firms

By Editors | 09/08/2018

Alipay, Union Mobile Financial Technology, and Gopay.com were fined more than a combined $11 million for various breaches in payment services regulation.

Enforcement

The Banking Industry’s $850bn Behavioural Problem

By Benjamin Quinlan | 07/08/2018

If banks are serious about avoiding future fines and losses, the solution lies first and foremost in developing a robust risk culture across the entire organisation.

Enforcement

India Probes Metropolitan Stock Exchange for Fraud, Mismanagement

By Garima Chitkara | 06/08/2018

The MSEI is under investigation by the government of India and SEBI for alleged fraud and mismanagement, and has hired a forensic auditor to look into the allegations made by two whistleblowers.