Enforcement

Reports say other fines may be made public in the near future for violations of new rules that prohibit the over-collection and misuse of credit information.

The case involved control deficiencies in respect of 33 Financial Services Limited's transaction monitoring and name screening systems, the HKMA said.

The probe is rumoured to be linked to Hu Huaibang, the former chairman of China Development Bank who was sentenced to life in prison in January 2021 on corruption charges.

New draft regulations open for consultation will strengthen the supervisory and risk disposal responsibilities of local governments within their territories.

The FSS said an increase in manpower and an expansion of the unit's scope are needed to strengthen its capacity to respond to unfair trading practices in the capital market.

The guidelines specify fines amounting to INR 5,000 per day for delays in disclosing information about board and shareholder meetings, and non-submission of quarterly and annual financial results.

Trading in Iran-origin goods was carried out without the knowledge of senior management by employees who omitted information from documentation.

Taiwan’s FSC has fined seven financial institutions for regulatory violations including the improper payment of commissions.

Four executives of oil and gas engineering company Serba Dinamik have been charged for submitting a false statement to Bursa Malaysia.

Three arrests have been made amid suspicions that “irregular trading activities have been carried out on the platform”.