Enforcement

Enforcement

ASIC, APRA Granted New Intervention Powers

By Editors | 05/04/2019

ASIC can intervene where financial and credit products put consumers at risk; APRA can intervene to prevent harm to superannuation members.

Enforcement

Australia Budget Delivers Additional Funding for APRA, ASIC

By Editors | 04/04/2019

APRA and ASIC will get more than A$550mn in funding to enhance their effectiveness in addressing financial sector misconduct.

Enforcement

SEBI Proposes SRO Nomination Plan for Mutual Fund Distributors, Advisers

By Editors | 02/04/2019

A consultation proposes the creation of a nomination committee comprising external experts to recommend a self regulatory organisation for mutual fund distributors and advisers to curb mis-selling.

AML / KYC

UN Security Council Resolution Targets Terrorism Financing

By Editors | 01/04/2019

The UN Security Council has adopted a resolution calling on member states to beef up efforts to identify, prosecute and penalise those directly or indirectly financing terrorism.

Enforcement

ASIC ‘Ready to Prosecute’ Underperforming Super Funds

By Editors | 30/03/2019

Australian regulators are trying to force an estimated 100 small and poor performing super funds out of the system using criteria devised by the Productivity Commission.

Enforcement

UK FCA Fines Goldman for MiFID Transaction Reporting Failures

By Editors | 29/03/2019

Goldman has been penalised over $44mn for making over 220 million transaction reporting errors over 9.5 years. The fine is larger than UBS received earlier this month.

Enforcement

Singapore Charges Three for Spoofing Index Futures

By Editors | 28/03/2019

In a MAS-CAD joint investigation, three individuals are being charged for allegedly spoofing SGX-MSCI index futures and giving false statements to SGX.

Enforcement

APRA May Intervene to Shift Bank Remuneration Practices

By Editors | 28/03/2019

APRA chairman Wayne Byres says banks could lose their power to set executive pay if they are not more proactive about changing remuneration practices.

Enforcement

India’s PNB Fined for Non-Compliance with SWIFT Norms

By Editors | 27/03/2019

The fine is significant because it was at Punjab National Bank where the $1.8b fraud occurred that prompted the RBI’s order for banks to link their core systems with SWIFT.