Enforcement

The FSC and FSS have ordered Kakao and Naver to alter or halt the sale of financial products online and register as brokerages by 24 September.

The probe was launched following complaints that the FIU had not acted on millions of euros of suspect transactions between 2018 and 2020.

The Singaporean businessman gave about SGD 1,000 to a Malaysian man to finance his travel to Syria to become an ISIS fighter.

The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ's relationship with high net worth customers.

He Xingxiang is the second most senior official at China Development Bank to become the subject of a corruption probe.

Monetary penalties have increased from PHP 30,000 to a maximum PHP 1 million for each violation. Fines up to three times profit gained or loss avoided can also be imposed.

The dealer’s representatives engaged in discretionary trading without proper authorisation, causing "significant losses" to a client.

KRX says the FSS warning of fines against nine market makers will hamper the functioning of the market making system for a while.

Haitong is suspected of negligence and violations of law and regulations when it served as financial adviser on a deal to help a client on a backdoor listing deal.

Increased scrutiny from US, EU and UK regulators have forced asset managers to review current practices for classifying funds as ESG-focused.