ENFORCEMENT

Capital / Liquidity

APRA Requires OnePath Custodians to Pay A$10.7m

By Sanday Chongo Kabange | 23/07/2024

Deputy Chair Margaret Cole said APRA’s patience for entities who are still struggling with foundational issues has “run out”.

Enforcement

SC Malaysia Warns of Investment Scams Involving Deepfakes

By Nithya Subramanian | 23/07/2024

The regulator has asked the public to be vigilant in evaluating investment offers, and not transfer money into suspicious accounts.

Enforcement

TAIFEX Amends Rules to Increase Penalties for Violations

By Editors | 23/07/2024

The amendments aim to enhance information security standards within futures firms, and better align with penalties in the securities market.

AML / KYC

Philippines Enacts Anti-Financial Account Scamming Act

By Editors | 22/07/2024

The law institutionalises penalties for social engineering-related crimes and online scams, including the use of mule accounts.

Sanctions

OFAC Issues Guidance on Extended Statute of Limitations

By Editors | 22/07/2024

OFAC plans to extend record-keeping requirements from five to ten years, to match the new statute of limitations period.

Enforcement

Korea FSS Punishes Brokerage Firm for Mis-selling PE Funds

By Editors | 22/07/2024

Shinyoung Securities failed to properly explain the investment risks to customers when selling Lime and Discovery private equity funds.

Enforcement

MUFG Pledges to Prevent Recurrence of ‘Firewall’ Breaches

By Editors | 22/07/2024

MUFG will cut the pay of several top executives and has pledged to implement specific improvement measures to prevent any recurrence.

Enforcement

US SEC Sets Up Interagency Securities Council to Combat Fraud

By Nithya Subramanian | 22/07/2024

The objective of the new council is to strengthen collaboration between federal, state, and local agencies to protect investors from fraud.

AML / KYC

Singapore Says Jho Low Red Notice Remains in Effect

By Nithya Subramanian | 22/07/2024

Jho Low’s civil settlement with the US DOJ has “no bearing” on criminal investigations against him and his associates in Singapore.