Enforcement

Enforcement

China Fines 19 Bank Branches for $3bn Pledged Loan Fraud

By Garima Chitkara | 05/02/2018

CBRC cracked down on banks that provided loans against low-purity gold; the regulator expressed concerns on banks’ lending and collateral management norms.

Fintech / Regtech

Cryptocurrency – You Can’t Kill an Idea

By Peter Guy | 05/02/2018

Once in a while capitalism must be rescued from the excesses of bankers and central banks. Governments can’t kill ideas, but it takes them a long time for them to concede or adapt.

Enforcement

China Increases Scrutiny on Shanghai Real Estate Loans

By Garima Chitkara | 02/02/2018

The CBRC is cracking down on misappropriation of real estate funds and speculation in the land market.

Enforcement

China’s Vicious Cycle – Household Debt, Mis-selling and Systemic Risk

By Bradley Maclean | 01/02/2018

Increased regulation in an effort to rein in personal borrowing could foster an attitude of ‘bare minimum compliance’ among banks, leading to future systemic risk.

AML / KYC

S. Korea Probes Illegal Forex Transactions Using Cryptocurrency

By Manesh Samtani | 01/02/2018

Korea Customs Service alleges KRW637.5 bn of foreign exchange crimes, including the use of cryptocurrency to conduct forex transactions, foreign remittances, illegal smuggling.

Crypto / Digital Assets

UPDATED – Japan FSA Responds to $530mn Cryptocurrency Theft

By Manesh Samtani | 31/01/2018

FSA orders Coincheck to improve security, implement preventative measures; will additionally inspect security mechanisms at other cryptocurrency exchanges.

Enforcement

China Punishes 12 Banks for Illegal Bills Trading Scandal, Fraud

By Editors | 31/01/2018

CBRC investigation revealed RMB 7.9 billion in illegal bank bills trading; life-time ban for Postal Savings Bank branch head.

Enforcement

CBA Becomes 7th Bank Involved in BBSW Manipulation Allegations

By Samuel Riding | 31/01/2018

Securities regulator says bank was involved in unconscionable conduct in dealing with the benchmark rate during 2012.

Enforcement

HSBC, Australian Trader Involved in Spate of US ‘Spoofing’ Cases

By Samuel Riding | 31/01/2018

HSBC’s US securities operations agree to pay $1.8bn after CFTC allegations it was involved in ‘numerous acts of spoofing’.