Enforcement

Enforcement

Citibank Taiwan Fined for ex-Financial Planner’s Misconduct

By Samuel Riding | 05/02/2018

Bank reported financial adviser to regulator and dismissed them after uncovering misconduct involving more than $3mn.

Crypto / Digital Assets

Japan Orders Internal Inspections at Cryptocurrency Exchanges Nationwide

By Manesh Samtani | 05/02/2018

All 32 cryptocurrency exchanges in Japan required to submit reports on security and risk management based on 43-item checklist.

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.