Enforcement

Enforcement

Vietnam Banks Ordered to Improve Internal Security

By Editors | 07/03/2018

Central bank instructs commercial lenders to improve staff oversight, upgrade security technology and boost fraud-related information sharing.

Enforcement

ASIC Consults on Oversight of New Financial Complaints Body

By Editors | 06/03/2018

The regulator seeks feedback on whether firms need transitional relief from dispute resolution disclosure obligations in the lead up to the new body’s commencement in November.

Enforcement

India Approves Independent Audit Oversight Body

By Editors | 05/03/2018

The new body will have powers to impose penalties or debar chartered accountants or their firms for up to ten years.

AML / KYC

CBA Defends Against Regulators’ Allegations

By Manesh Samtani | 01/03/2018

The bank says its employees did not adversely impact the BBSW as ASIC claims, denies AUSTRAC allegations of systemic AML noncompliance.

Enforcement

APRA Faces Questioning on Mortgage Fraud Risk Review

By Garima Chitkara | 01/03/2018

APRA chairman to answer questions on unreleased mortgage risk review findings in Australian Senate this week.

Enforcement

Hong Kong SFC to Focus on Corporate Fraud in 2018

By Editors | 27/02/2018

SFC’s recent newsletter on enforcement priorities details concern on false financial statements, IPO fraud and other sponsor failures.

Enforcement

Indian Court Urges End to Auditor ‘Self Regulation’

By Editors | 26/02/2018

Supreme Court says auditors lack adequate oversight, have breached central bank and foreign direct investment rules and Chartered Accountants Act.

Enforcement

Malaysia Eyes Senior Managers Regime

By Samuel Riding | 25/02/2018

BNM proposals resemble Hong Kong’s MiC regime in setting out key responsibilities and requiring appointment and naming of responsible individuals.

Enforcement

HK SFC Sees Surge in Criminal Prosecutions

By Samuel Riding | 25/02/2018

Criminal charges laid by securities regulator nearly tripled in last nine months of 2018, although investigations started and concluded declined.