Enforcement

Enforcement

HK SFC Sees Surge in Criminal Prosecutions

By Samuel Riding | 25/02/2018

Criminal charges laid by securities regulator nearly tripled in last nine months of 2018, although investigations started and concluded declined.

Enforcement

Australian Banks’ Bill for Dodgy Financial Advice Hits $40mn

By Garima Chitkara | 22/02/2018

Australian banks paid an additional $16.7mn to compensate customers affected by “non-compliant” financial advice between 2009 and 2015.

Enforcement

CBRC to Name-and-Shame Banking Wrongdoers

By Editors | 22/02/2018

Banking regulator seeks to send a warning to financial institutions of the consequences of misbehaving

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.