ENFORCEMENT

AML / KYC

Singapore Issues 7th, 8th Bans Related to 1MDB Probe

By Editors | 20/12/2017

Yeo Jiawei, a former BSI wealth manager, gets lifetime ban to add to his convictions for 1MDB related money laundering, cheating and witness tampering.

Enforcement

Australian Banks Agree New Code of Conduct

By Editors | 20/12/2017

Code of conduct, which is awaiting approval by ASIC is legally binding in contracts with consumers, bans unsolicited credit card limit increases.

Enforcement

Standard Chartered Brokerage Arm Hit With $330,000 Fine

By Editors | 19/12/2017

SFC investigation reveals internal control failures resulted in at least 61 regulatory breaches involving short selling, required liquid capital deficit of HKD2 billion.

Enforcement

2017 a Punishing Year for Naughty Traders in China

By Editors | 18/12/2017

China securities regulator has issued 206 administrative penalties in 2017, more than $1bn in fines; increasing cooperation with HK SFC.

AML / KYC

Commonwealth Bank Responds to AUSTRAC Allegations

By Garima Chitkara | 14/12/2017

Bank admits late filing of reports on more than 50,000 deposits into its ATMs, AUSTRAC seeking penalties for individual AML/CTF law breaches.

AML / KYC

US Lifts Threat of Criminal Charges against HSBC

By Garima Chitkara | 14/12/2017

Bank released from deferred prosecution agreement after meeting its terms; outgoing CEO says AML to remain ‘a top priority’ in 2018.

Enforcement

Hong Kong Court Confirms Legality of SFC-CSRC Information Sharing

By Editors | 12/12/2017

Judge rejects legal challenge to transfer of documents seized by SFC during execution of a search warrant to the Chinese securities regulator.

Capital / Liquidity

MiFID II: Everything European Banks Active in Asia Need to Know

By Fabienne Sayarath | 07/12/2017

Exploring key issues including the status of local subsidiaries, trading venue uncertainty, transaction reporting and more as the deadline looms.

AML / KYC

Don’t Panic – MiFID II Set for ‘Soft’ Launch

By Samuel Riding | 07/12/2017

Experts say regulators likely to accept a ‘best efforts’ approach for at least several weeks after MiFID II official implementation deadline.