Enforcement

    Enforcement

    Australia Creates New Financial Complaints Body

    By Editors | 16/02/2018

    New body merges three existing complaints authorities; will streamline complaints process and quicken dispute resolution for customers.

    Enforcement

    CBRC Targets Banker Misconduct

    By Samuel Riding | 15/02/2018

    CBRC proposals would require banks to set up conduct management departments, submit conduct codes to regulator, establish whistle blower mechanism.

    Enforcement

    Interactive Brokers HK Fined for Trading System Failures

    By Editors | 15/02/2018

    The firm’s electronic trading system repeatedly submitted orders without regard for market liquidity and without effective price and volume controls.

    Enforcement

    China ‘Techfins’ Alibaba, Tencent Fined for Forex Breaches

    By Editors | 10/02/2018

    Financial units of Alibaba and Tencent fined for offences including failure to file reports on forex payments by non-residents.

    Enforcement

    Credit Suisse Hong Kong Fined $5mn

    By Editors | 10/02/2018

    Regulatory breaches include failures related to segregation of client securities, reporting of transaction, noncompliance with short selling requirements, unsuitability of investment products sold to clients.

    Enforcement

    RBI to Set Up Dedicated Ombudsman for NBFCs

    By Editors | 09/02/2018

    New ombudsman scheme will initially cover deposit-taking nonbank financial companies; rules to be laid out this month.

    Enforcement

    Korea Seeks to Expand Recruitment Probe to NBFIs

    By Editors | 09/02/2018

    Probe could include some 70 savings banks, insurers, credit card providers and investment companies.

    Enforcement

    Australia Moves to Cap Banker Pay

    By Garima Chitkara | 08/02/2018

    New law intended to restore trust in scandal-hit sector; executives to be held directly accountable and can be potentially banned from the industry on non-compliance.

    Enforcement

    ANZ, Westpac Banks Refund Credit Card Customers

    By Editors | 08/02/2018

    ANZ to refund AUD10.2mn for improper fee disclosures; Westpac completes AUD11.3mn remediation following review of credit card limit increases.

    Enforcement

    Korean Banks Face Claims of Corrupt Recruitment

    By Editors | 07/02/2018

    FSS says banks kept list of officials and former officials whose family members should be favoured in recruitment processes.

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