Enforcement

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.

Enforcement

RBA Discloses A$22.6m in Penalties Paid by its Subsidiaries in 2012

By Manesh Samtani | 29/11/2018

The court-suppressed penalties were paid by the RBA subsidiaries to settle charges of conspiracy to bribe foreign officials for the purpose of obtaining or retaining business.

Enforcement

S. Korea Fines Goldman $6.7m for Naked Short Selling

By Editors | 29/11/2018

The FSC found that  Goldman Sachs conducted naked short selling worth about KRW 40 billion in late May. Naked short selling is prohibited in South Korea.

Enforcement

Tokyo Bourse to Probe Nissan over Former Chairman’s Alleged Misconduct

By Editors | 27/11/2018

The Tokyo Stock Exchange will examine Nissan’s internal controls and consider punitive penalties including possible delisting, amid allegations of financial misconduct by its former chairman.

Enforcement

Macquarie Emerges from Royal Commission Unscathed

By Manesh Samtani | 26/11/2018

Macquarie seen as the first responsible corporate role model in the nine months since banking royal commission public hearings began.

Enforcement

Restoring Trust in Financial Sector Essential for Economic Prosperity – RBA

By Manesh Samtani | 23/11/2018

Strengthening trust in Australia’s financial institutions requires better incentive systems, clearer lines of accountability and stronger penalties for misconduct, said RBA governor Philip Lowe.

AML / KYC

Japan’s MUFG in Ongoing AML Probe by New York Regulators

By Manesh Samtani | 23/11/2018

The probe has been ongoing since late 2017, where MUFG is alleged to have intentionally ignored internal controls meant to prevent it doing business with sanctioned entities.