Enforcement

Japan FSA to Set up Anti Cybercrime, Money Laundering Bureau

Internal reorganisation acknowledges growing role of fintech, which will be regulated by FSA Planning and Coordination Bureau with enhanced powers.

Indian Brokers’ AML Compliance Under Heightened Scrutiny

SEBI warned nearly 500 entities on possible money laundering over the last financial year; conducted 245 investigations into illegal stock market activity.

China Financial Regulation Needs to be Stronger Still – IMF

IMF praises measures such as inclusion of WMPs in bank assessments but cites concerns about growth in debt and banking sector assets.

CBA in Alleged ‘Serious’ Breach of AML/CTF Rules

AUSTRAC began civil proceedings against the CBA for “serious and systemic” failure to comply with the AML and counter-terrorism financing laws.

Hong Kong Regulator ups Penalties Against Individuals

Fines against individuals as opposed to corporates were up in Hong Kong, a 63% increase in fines from the year before.

China Financial Futures Exchange Ups Enforcement

ASIC Chief Sets out Firms’ Conduct Failings

Singapore Banker Gets 2nd Conviction for 1MDB-related Offences

Former wealth manager at shuttered Singapore office of Swiss bank BSI to serve further two years for money laundering after witness tampering sentence ends.

Bank Risks Under Control, Market Supervision to Intensify – China Regulators

Senior banking regulator suggests number of illegal fundraisings has declined sharply; counterpart at CSRC says to continue crackdown on market malfeasance.

Australia Launches Bank Management Accountability Consultation

BEAR - Banking Executive Accountability Regime - would allow regulator to more easily ban directors and senior managers; influence remuneration policies.