ENFORCEMENT

Enforcement

PNB Investigation Reveals Systemic Failures at Bank, RBI

By Garima Chitkara | 05/04/2018

PNB allegedly misled the regulator about the progress of its Swift integration. Indian law enforcement noted that an ill-defined risk-based supervisory approach may have caused the RBI to miss the fraud.

AML / KYC

Sri Lanka Investigating “Suspicious” Chinese-held Bank Accounts

By Garima Chitkara | 02/04/2018

Sri Lanka’s financial crimes unit is investigating suspicious transactions originating from three Chinese-held accounts with LKR957 million.

AML / KYC

Australia’s Largest Tax Fraud Case Ends with 10-year Jail Sentence

By Samuel Riding | 02/04/2018

Duo spent $103mn in illicit gains on Rolls Royces, a Lamborghini, an Aston Martin, a Mercedes, a BMW and yachts

Enforcement

CSRC Flexes Muscles with Internal Control, Market Integrity Rules

By Samuel Riding | 02/04/2018

Securities regulator, which remains independent after recent reshuffle, tightens rules on investment bank internal controls, securities and futures market participation.

Enforcement

ICICI Bank Fined for Failing to Disclose Debt Securities Sale

By Garima Chitkara | 31/03/2018

ICICI Bank sold debt securities from its held-to-maturity portfolio in excess of 5 percent of total value without the necessary disclosure in contravention with RBI rules.

Enforcement

Chinese Government Approves WMP Clampdown

By Editors | 30/03/2018

New rules to reduce leverage, ban guarantees; financial court to be set up in Shanghai will jurisdiction over major legal cases.

Enforcement

Royal Commission Exposes Multiple Lending Practice Failures at Big Four

By Manesh Samtani | 29/03/2018

Public inquiry’s first round of hearings reveals multiple failures at ‘big four’ banks to lend in customers’ best interests.

Enforcement

Australian Bank Conduct Code to be Compulsory

By Editors | 28/03/2018

Code being considered by ASIC will be binding, with self-regulatory body given power to investigate misdemeanours and issue sanctions.

Enforcement

IPO Sponsors Still Deficient, says SFC

By Editors | 27/03/2018

Thematic review details deficiencies in standards of conduct, due diligence practices and internal systems and controls.