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Enforcement
ASIC Raises Bar for Complaints Handling at Financial Firms
By Editors | 16/05/2019
The proposals raise internal dispute resolution standards at financial firms, and introduce mandatory data reporting to help make complaints handling performance more transparent.
Enforcement
Taiwan Adviser Found Embezzling $4.8mn Over 14 Years
By Editors | 14/05/2019
A Hua Nan Commercial Bank adviser allegedly withdrew money from client accounts and made loans in their names, before diverting the funds to a company operated by her relatives.
Enforcement
MAS Imposes Multi-Year Bans for ‘Dishonest Conduct’
By Editors | 10/05/2019
Two former representatives of Jefferies Singapore colluded to trade against their firm using privileged information, representing ‘deceptive conduct’ which contravenes the SFA.
Enforcement
Chinese Police Arrest Five More Fuxing Execs on Fraud Charges
By Editors | 10/05/2019
Four deputy presidents and the head of one of Fuxing’s subsidiaries have been detained for illegal fundraising activities, following charges brought against the group’s chairman last July.
Enforcement
ASEAN Financial Sector Lacks Personal Accountability – Refinitiv Poll
By Editors | 09/05/2019
61% of the survey respondents said there is too little personal accountability in ASEAN’s financial sector, compared to just 16% who believe there is too much.
Enforcement
Officials Installed at Chinese Securities Firm to Monitor Risks
By Editors | 08/05/2019
The CSRC has installed officials at a troubled securities firm, N-Securities, over concerns about excessive debt and inadequate risk management.
Enforcement
Temporary Relief to NSE Directors, Brokerages in Algo Case
By Editors | 07/05/2019
Three brokerages facing market bans had asked for a temporary stay to close out open futures and options positions.
Enforcement
Malaysia Extradites Former Goldman Banker to US
By Editors | 07/05/2019
Extradited from Malaysia, the former Goldman Sachs banker Roger Ng has pleaded not guilty to 1MDB-related charges in the US, and has been released under house arrest.
AML / KYC
US Judge Subpoenas Chinese Banks in Sanctions Probe – Report
By Editors | 07/05/2019
A US federal judge has ordered three Chinese banks to provide documents in relation to a Hong Kong company which allegedly helped North Korea evade international sanctions.
Enforcement
RBI Fines Multiple Payment Service Providers
By Editors | 06/05/2019
The RBI has fined prepaid payment instrument issuers, two US money transfer firms and Yes Bank for non-compliance with regulatory guidelines.
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