Enforcement

Capital / Liquidity

CBIRC to Launch Special Inspections Targeting Property Lending Practices

By Editors | 24/07/2019

The special inspections will reportedly involve 75 banks in 30 cities, scrutinising all aspects of property-related loans, as regulators seek to rein in risk.

Enforcement

Equifax to Pay Up to $700m to US Authorities for 2017 Data Breach

By Editors | 24/07/2019

The penalty amounts allocated to the consumer compensation fund represent less than 3 US dollars for each of the estimated 147 million consumers who had their data stolen in 2017.

Big Picture

New Zealand FMA Sets Out Key Focus Areas, Strategic Objectives

By Editors | 24/07/2019

The FMA is prioritising governance, culture, systems and controls, as well as mechanisms to deter misconduct and facilitate informed decision-making by investors and customers.

Enforcement

Hong Kong ICAC Charges Five More Individuals in Convoy Case

By Editors | 23/07/2019

Six individuals are now charged with conspiracy to defraud the Hong Kong stock exchange and the board of directors, shareholders and investors of Convoy.

Enforcement

China Bank Branch Head Commits Suicide Amid Corruption Probe

By Editors | 22/07/2019

China Development Bank’s Shandong branch head, Zhong Xiaolong, was reportedly being probed in connection with illegal loan guarantees made by the bank’s Jilin branch, where he was a former deputy head.

AML / KYC

Whistleblowers Allege SCB Cleared $57bn in Iran Transactions

By Editors | 22/07/2019

Whistleblowers reportedly claim that Standard Chartered Bank cleared more transactions in violation of Iran sanctions than the US government had used as its basis for fines issued in April.

Enforcement

HKMA Delegated Powers to Inspect Banks’ Insurance Business

By Editors | 22/07/2019

The Insurance Authority is delegating inspection and investigation powers to the HKMA in relation to insurance related business conducted by authorised institutions.

Enforcement

S. Korea Forms Special Unit to Investigate Unfair Trading

By Editors | 18/07/2019

The squad comprises 16 special judicial police officers, one FSC public official and 15 FSS employees, tasked with handling unfair trading cases under the command of Seoul prosecutors.

Capital / Liquidity

Allahabad Bank Reports $258mn Fraud by Indian Steelmaker

By Editors | 17/07/2019

Following a similar report from Punjab National Bank earlier this month, Allahabad Bank has reported a $258mn fraud at Bhushan Power & Steel.