Enforcement

Enforcement

SSE Re-stocks Disciplinary Arsenal

By Editors | 26/03/2018

New documents give Shanghai exchange greater powers over trading members and investors.

Enforcement

UPDATED – Indian Banks Fall Victim to $342mn in Loan Frauds

By Editors | 23/03/2018

Jewellery chain falsified financial records to obtain 8.24 billion rupees in loans from 14 banks over 10 years; infrastructure firm defrauds 9-bank consortium of 13.94 billion rupees.

Enforcement

SFC Fines UBS Securities for Missing Client Consent Records

By Editors | 23/03/2018

The firm was only able to provide the regulator about half of the client consents for facilitation trades.

Enforcement

HK Risks Becoming Auditing Outcast – Report

By Editors | 22/03/2018

Head of Financial Reporting Council says overhaul of accountancy regulation will not meet international standards.

AML / KYC

New Zealand: $970mn Laundered Each Year

By Editors | 21/03/2018

Key facilitators for money laundering include shell companies and trusts, alternative banking platforms, trade based activities, real estate, casinos.

Enforcement

S.Korea Tax Authority Fines Brokers for ‘Borrowed Name’ Accounts

By Editors | 21/03/2018

Brokerages penalised for Samsung chief’s borrowed-name accounts will seek to recover money from the electronics giant.

Enforcement

Japan Introduces AI Market Surveillance

By Samuel Riding | 21/03/2018

System from Hitachi and NEC will identify potential unfair trading, but humans will still be relied on to interpret data.

AML / KYC

MAS Fines StanChart Units $4.9mn for AML/CTF Breaches

By Editors | 20/03/2018

The bank’s Singapore branch and trust unit failed to adequately assess and mitigate risks that clients were trying to avoid CRS reporting obligations.

Crypto / Digital Assets

South Korean Crypto Exchanges Raided in Embezzlement Probe

By Manesh Samtani | 20/03/2018

Staff and executives at three exchanges allegedly siphoned customer deposits to buy cryptocurrency on other platforms.