Enforcement

AML / KYC

Australia Joins New International Tax Enforcement Alliance

By Manesh Samtani | 11/07/2018

The ‘J5’ will three global tax enforcement initiatives: cybercrime and virtual currencies, enablers of offshore tax crime, and data platforms; new alliance includes Canada, US, UK, Netherlands.

Enforcement

CCB Hong Kong Unit Fined for IPO Sponsor Failures

By Manesh Samtani | 10/07/2018

SFC has fined CCB International Capital HK$24mn for failing to conduct reasonable due diligence for seafood company Fujion Dongya Aquatics in its 2014 listing.

Enforcement

UPDATED – Samsung Securities Fined 144 Million Won For Dividend Error

By Garima Chitkara | 09/07/2018

South Korea’s FSC fined the company for an April ‘fat finger’ error, which led to the firm issuing 2.8 billion […]

Securities / Derivatives

India’s NSE Accused Of Fraud In Algo-Trading Case

By Garima Chitkara | 09/07/2018

India’s securities regulator has issued a notice to NSE for allegedly misuse of its co-location facility by some brokers seeking early access to the exchange’s algo-trading system.

Enforcement

The Risky Business of Hiring Chinese Investment Bankers

By Peter Guy | 09/07/2018

The real cost of doing business in China was suddenly revealed with Credit Suisse’s settlements totalling $77 million with the SEC and DOJ over its alleged violations of the Foreign Corrupt Practices Act by employing Chinese princelings and princesses.

Enforcement

MAS Reprimands Asset Manager for Late Regulatory Submissions

By Manesh Samtani | 08/07/2018

Annual declarations, auditor reports and director change notifications were submitted up to three years late by Taiyo Asset Management; director found guilty of misconduct for failure to implement compliance controls.

Enforcement

UPDATED – Former CSRC Vice Chairman Pleads Guilty to Bribery, Insider Trading

By Emma Zhou | 06/07/2018

Yao Gang charged with taking advantage of his position, accepting money and gifts, and insider trading; two other CSRC officials also charged

Enforcement

Two Former NAB Employees Receive Lifetime Ban for Loan Fraud

By Emma Zhou | 06/07/2018

ASIC investigation revealed the two provided false payslips and letters of employment, among other documents, in support of loan applications.

Enforcement

New Zealand Court Jails Ponzi Scheme Operator for 7.5 Years

By Manesh Samtani | 05/07/2018

Over 900 investors were persuaded to invest over NZ$8mn with registered foreign exchange provider BlackfortFX, though the firm did not conduct any investment activity.