Enforcement

Enforcement

New Zealand Regulator Flags Market Misconduct

By Garima Chitkara | 22/02/2018

Report outlines enforcement actions on market manipulation against Milford Asset Management trader, investigation into trading at Goldman Sachs, other cases of misconduct.

Enforcement

RBI Under Fire for Failure to Detect $1.8bn Loan Fraud

By Manesh Samtani | 21/02/2018

Central bank audits failed to detect loan fraud using Punjab National Bank guarantees for over seven years; overseas branches which granted loans also under scrutiny.

AML / KYC

Border Cash Declarations Won’t Halt HK Money Laundering

By Peter Guy | 19/02/2018

For the first time, visitors to Hong Kong will soon have to declare cash they bring in. But money laundering will continue to flourish.

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.