Enforcement

Enforcement

Vietnam’s SSC to Beef up Handling of Stock Market Violations

By Editors | 25/01/2019

The SSC is coordinating with Vietnam’s Ministry of Public Securities to ensure violators face criminal charges in addition to the existing administrative sanctioning regime.

Enforcement

Australian Regulators Under Scrutiny for Accepting Industry Gifts

By Garima Chitkara | 23/01/2019

ASIC was reportedly found to have accepted expensive gifts and hospitality from financial firms including Macquarie Bank even as it was under multiple investigations by the corporate regulator.

Enforcement

S. Korean Regulator Fines Four Global Banks for Rigging FX Derivatives

By Editors | 22/01/2019

South Korea’s Fair Trade Commission has fined JP Morgan, HSBC, Deutsche Bank and StanChart a combined $613,000 for rigging forex derivative prices.

Enforcement

ASIC Officials Fear Excessive Focus on Litigation – Report

By Editors | 21/01/2019

While ASIC officials talk up plans to fund more court cases, behind the scenes they are reportedly concerned about the community backlash and loss of confidence if cases are lost.

Enforcement

NSE Chairman Resigns Amid Bribery Probe

By Editors | 14/01/2019

NSE chairman Ashok Chawla was named in a charge sheet related to a bribery case involving telecom operator Aircel and its Malaysian investor Maxis.

Enforcement

RBI Imposes Monetary Penalty on Citibank India

By Editors | 14/01/2019

The ₹30mn penalty is based on deficiencies in regulatory compliance related to ‘fit and proper’ requirements for bank directors.

AML / KYC

Philippine Court Rules in First Conviction in Bangladesh Bank Heist Case

By Garima Chitkara | 11/01/2019

Former RCBC bank manager Maia Santos-Deguito faces 49 years imprisonment and fines of up to $110mn for her role in the February 2016 theft of $81mn from Bangladesh’s central bank.

Capital / Liquidity

SFC Fines FWD Life for Noncompliance with Key Personnel Requirements

By Editors | 09/01/2019

FWD Life also failed to maintain satisfactory internal controls and written compliance procedures as required under the SFC Code on MPF Products and the Fund Manager Code of Conduct.

Enforcement

China Securities Regulator Breaks Record with 2018 Penalties

By Editors | 08/01/2019

The CSRC imposed fines of over $1.55bn in 2018, with the largest number of cases relating to insider trading, illegal disclosures and market manipulation.