Enforcement

AML / KYC

Hong Kong Not Obliged to Enforce US Sanctions – Report

By Editors | 13/12/2018

Hong Kong is not obliged to enforce unilateral sanctions imposed by individual jurisdictions including the US, a senior official said in regards to Huawei’s alleged dealings with Iran.

Enforcement

RBI Fines Indian Bank for Violating Cybersecurity Norms

By Editors | 12/12/2018

The Reserve Bank of India has fined Indian Bank 10 million rupees for deficiencies in regulatory compliance with cybersecurity norms.

AML / KYC

Hong Kong Asked to Bolster Sanctions Enforcement Amid Huawei Dispute

By Manesh Samtani | 11/12/2018

US officials have asked Hong Kong to bolster sanctions enforcement as Huawei’s deputy chairwoman stands accused of violating Iran sanctions through a Hong Kong shell company.

Fintech / Regtech

Australia Passes ‘Deeply Flawed’ Anti-Encryption Bill

By Manesh Samtani | 11/12/2018

The powers granted under the bill allow law enforcement agencies to compel access to encrypted messages, which could have broader implications for financial services.

Enforcement

IT Consultant of Singapore Investment Bank Charged with Insider Trading

By Editors | 10/12/2018

The US SEC has filed charges against an outsourced IT contractor for trading on inside information while working at the Singapore branch of an investment bank.

Enforcement

China Banking Regulator Fines Six Banks a Combined $22mn

By Editors | 10/12/2018

The CBIRC has fined six banks a combined 156.3 million yuan for breaching rules on wealth management products, lending, and misleading advertising.

Enforcement

Korean Regulators Become Latest Signatories to IOSCO EMMoU

By Editors | 07/12/2018

South Korea’s FSC and FSS have jointly become the 10th member of IOSCO’s EMMoU, which enables cross-border sharing of audit papers and telecommunications and internet records.

Enforcement

Soros-Linked Fund Manager Fined in Hong Kong for Naked Short Selling

By Editors | 07/12/2018

SFM HK Management Ltd, owned by New York’s Soros Fund Management, was fined HK$1.5mn for short selling Great Wall Motors bonus shares before they were available for trading.

Enforcement

China Unifies Enforcement of Bond Markets Under CSRC

By Editors | 05/12/2018

The move to unify regulation of the bond markets under one authority is aimed at improving the overall regulatory system and preventing systemic risk.