Enforcement

Enforcement

FSB Issues Recommendations on Compensation Data Reporting

By Editors | 08/05/2018

Proposed data sets include questions for determining whether governance processes appropriately use compensation and incentive systems to promote good conduct, remediate undesirable conduct and support identification of emerging misconduct risk.

Enforcement

New Zealand Regulators Seek Assurances on Conduct, Culture

By Garima Chitkara | 07/05/2018

Banks write to regulators to assure them that issues raised during Australian Royal Commission are not as prevalent in New Zealand; regulators respond requesting more detailed response from individual banks.

AML / KYC

MAS Hits Former Credit Suisse Banker with Prohibition Orders

By Editors | 07/05/2018

Former representative deliberately concealed identity of beneficial owner on three accounts, making it difficult for the bank to monitor and detect suspicious transactions.

Enforcement

Australia Authorises New Financial Complaints Body

By Garima Chitkara | 04/05/2018

The Australian Financial Complaints Authority, going into operation on 1 November this year, will focus on complaints by consumers and small businesses against financial firms.

Crypto / Digital Assets

ASIC Takes Aim at Misleading, Deceptive ICOs

By JP Reimann | 03/05/2018

Regulator warns that Australian corporate and consumer law applies, even for overseas ICOs, if Australian consumers are affected.

Capital / Liquidity

CBA Ordered to Boost Capital Until Governance Improves

By Editors | 02/05/2018

Prudential inquiry reveals widespread complacency, inadequate risk management, unclear executive level accountabilities, among other failings at the bank.

AML / KYC

Hong Kong Publishes First AML/CTF Risk Assessment

By Manesh Samtani | 02/05/2018

Hong Kong exposed to medium-high level of money laundering risk; ability to combat money laundering also assessed as medium-high.

Enforcement

Chinese Exchanges Toughen ‘Abnormal Trade’ Monitoring

By Editors | 01/05/2018

SZSE and SSE have strengthened rules for member firms on monitoring key accounts for abnormal trading and market manipulation.

Enforcement

Singapore Raises Accountability, Conduct Standards at FIs

By Garima Chitkara | 30/04/2018

MAS has released guidelines on promoting individual accountability of senior managers, strengthening employee oversight, and embedding ‘proper conduct’ standards at financial institutions.