Enforcement

AML / KYC

MAS Fines StanChart Units $4.9mn for AML/CTF Breaches

By Editors | 20/03/2018

The bank’s Singapore branch and trust unit failed to adequately assess and mitigate risks that clients were trying to avoid CRS reporting obligations.

Crypto / Digital Assets

South Korean Crypto Exchanges Raided in Embezzlement Probe

By Manesh Samtani | 20/03/2018

Staff and executives at three exchanges allegedly siphoned customer deposits to buy cryptocurrency on other platforms.

Enforcement

China Minsheng, Ping An Banks Fined for Clearing, Payments Violations

By Editors | 19/03/2018

Banks violated rules on management of clearing, yuan settlement, and NBFI payments; Minsheng Bank’s $25.7mn fine is highest levied in financial industry by PBOC.

Enforcement

Cyber Threats Top ASIC Agenda

By Samuel Riding | 19/03/2018

Australian securities regulator warns on ‘malicious cybercrime’; says surveillance of OTC markets will be another 2018 priority.

Enforcement

S.Korea to Tighten Financial Holding Company Governance Rules

By Editors | 18/03/2018

Financial regulator says it will toughen rules on appointments amid corporate governance concerns re excessive influence, lack of innovation.

Enforcement

ASIC Mandates Banks’ Further Removal of Unfair Loans Terms

By Editors | 17/03/2018

New guidance ensures bank staff are held responsible for conduct and statements outside of formal contracts; removes borrower’s liability in the event of lender misconduct.

Securities / Derivatives

Shanghai, Shenzhen Bourses Draft Compulsory Delisting Rules

By Editors | 16/03/2018

False, misleading or fraudulent listing, restructuring documents or other disclosures including annual reports will trigger the delisting mechanism.

Enforcement

Deutsche Fined, Censured for HK Regulatory Breaches

By Samuel Riding | 15/03/2018

Securities regulator says fine would have been much higher were it not for self-reporting of breaches, cooperation in inquiry and ‘remedial measures’.

Enforcement

Australia’s Royal Commission Hears Bribery Allegations

By Garima Chitkara | 15/03/2018

NAB staff allegedly falsified documents to achieve home loan targets, branch managers colluded with loan introducers to manipulate incentive schemes.