Enforcement

Enforcement

Goldman, Credit Suisse Raided in Seoul in Samsung BioLogics Probe

By Editors | 15/04/2019

Prosecutors are reportedly looking for information about a scrapped Nasdaq listing of a Samsung BioLogics subsidiary, to shed light on possible accounting irregularities.

Enforcement

CBA has Complied with 2014 Financial Advice Licence Conditions

By Editors | 12/04/2019

CBA has offered A$9.3mn to compensate customers whose advice was reviewed under the 2014 licence conditions imposed on its financial planning entities.

Enforcement

Australian Authorities Bust Vietnamese Money Transfer Cartel

By Editors | 12/04/2019

The ACCC and Australian police have brought charges against an alleged price-fixing cartel, which is said to have been directed by Vietnam’s Sacombank.

Enforcement

ASIC Warns OTC Derivatives Platforms on Overseas Services

By Editors | 12/04/2019

OTC derivatives platforms offering services to foreign retail investors may be breaking overseas laws, which may be inconsistent with local obligations to provide services ‘efficiently, honestly and fairly’.

Enforcement

Taiwan Raises Max Penalty for Unauthorised Investments from China

By Editors | 11/04/2019

Taiwan has passed a legislative amendment raising the ceiling for fines against Chinese investment into local companies without authorisation.

Enforcement

MAS Bans Former HSBC, UOB Employees for ‘Egregious’ Misconduct

By Editors | 11/04/2019

Three individuals have received lengthy bans, in addition to jail terms, for “criminal conduct at the expense of their customers”.

Enforcement

UniCredit China Employee Embezzled $15mn of Client Money

By Editors | 10/04/2019

The employee allegedly used a group supervisor’s password to access the funds, which were used to buy apartment units in the US, Greece and Japan.

AML / KYC

Standard Chartered Fined Over $1bn by US, UK Authorities

By Editors | 10/04/2019

Standard Chartered Bank will pay $947mn to US authorities for poor AML controls and sanctions breaches, and $134mn to the UK FCA for AML breaches.

Enforcement

S. Korea Fines Another Goldman Affiliate for Naked Short Selling

By Editors | 10/04/2019

Goldman Sachs India Investment, along with three other offenders, has been fined for naked shorting by South Korean authorities