Enforcement

The RBNZ will direct the additional funding towards its supervisory and enforcement capability, technology infrastructure and security architecture.

A Shanghai entrepreneur and his daughter were penalised a total 3.6bn yuan, representing a record fine and confiscation of illegal gains.

Once signed into law, the Act will authorise the use of sanctions against individuals, entities and financial institutions in response to China's new national security law for Hong Kong.

Accused of fabricating depository statements, Optimus Asset Management has suspended withdrawals from six feeder funds since last week, locking up 90bn won in investor money.

South Korea is introducing a cross-agency task force to monitor for illegal loan sharking activities and an alert system to detect predatory loan advertisements.

The seized bank funds, said to be connected to suspected Russian money launderer Alexander Vinnik, represent the largest ever asset restraint in New Zealand police history.

Starting from 1 January 2021, ASIC will be closely monitoring conduct and outcomes to ensure mortgage brokers are effectively complying with the best interests duty.

Colonial First State is said to have used CBA's branches and digital channels to sell superannuation products to more than 390,000 bank customers under a revenue-sharing arrangement.

CLSA Premium NZ failed to adequately conduct customer due diligence, terminate certain business relationships, report suspicious transactions, and maintain records.

The head of dealing "turned a blind eye" to internal control deficiencies in relation to third party deposits brought to her attention by its staff since 2013.