Enforcement

Enforcement

FMA Imposes Permanent Stop Order on Validus International

By Sanday Chongo Kabange | 05/07/2023

The permanent stop order bars Validus and its associated persons from offering or promoting its financial products to New Zealanders.

Enforcement

Seoul Police Probes Suspected Illegal Payments at Kakao Pay

By Sanday Chongo Kabange | 05/07/2023

Kakao Pay is alleged to have received illegal subsidies from NICE Information & Telecommunication, a leading value-added network operator.

Enforcement

Singapore Has Not Banned Myanmar Trade: Minister

By Karen Ng | 05/07/2023

Singapore and war-torn Myanmar would remain trading partners, Vivian Balakrishnan said in response to questions raised about data suggesting the city-state was supplying arms to the Myanmar military.

Enforcement

European Commission Proposes Rules to Enhance GDPR Enforcement Efficiency

By Editors | 04/07/2023

The GDPR Procedural Regulation aims to streamline cooperation between data protection authorities by harmonising some administrative procedures in cross-border cases.

Enforcement

APRA Fines BNK Banking Corp for Late Reporting of EFS Data

By Sanday Chongo Kabange | 04/07/2023

APRA said BNK Banking Corporation was 32 days late in filing statistical reports for the month ending 28 February 2023.

AML / KYC

China Intensifies Efforts to Combat Tax Fraud

By Editors | 03/07/2023

The crackdown is focusing on major industrial and regional cases and professional criminal gangs.

Securities / Derivatives

Korea Passes Bill to Strengthen Penalties for Unfair Trading

By Editors | 03/07/2023

The FSC will be able to impose a penalty surcharge of up to twice the amount of illegally earned profits. The enhanced penalties will take effect in January 2024.

AML / KYC

AUSTRAC Spares Bell Financial from Further Regulatory Action

By Sanday Chongo Kabange | 03/07/2023

AUSTRAC received audit reports for three Bell Financial Group entities and decided not to undertake further regulatory action against them.

Crypto / Digital Assets

Korean Authorities Probes Crypto Lender Delio Over Fraud Allegations

By Sanday Chongo Kabange | 03/07/2023

Regulators are investigating Delio on suspicions that it engaged in fraudulent activities, embezzlement and breach of trust.