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Enforcement
UK FCA Queries Banks About Staff Messaging Practices
By Editors | 12/10/2022
The queries come after US regulators collected over $2bn in combined penalties from firms for failures to maintain, preserve, or produce staff communication records.
AML / KYC
Singapore Punishes Ex-BSI Banker Over 1MDB Failings
By Sanday Chongo Kabange | 11/10/2022
BSI Singapore’s former head of private banking contributed to the bank’s failure to file STRs for 1MDB-related transactions when there were reasonable grounds to do so.
AML / KYC
US Targets Fuel Procurement Network in Latest DPRK Sanctions
By Editors | 11/10/2022
The sanctions are against two Singapore companies, a Marshall Islands entity, and two individuals for illicit ship-to-ship transfers to deliver fuel to North Korea.
AML / KYC
US Says Hong Kong Risks Becoming Haven for Sanctioned Russians
By Editors | 11/10/2022
The warning came days after Hong Kong indicated it would not pursue action against a superyacht owned by a sanctioned Russian oligarch that docked in the city.
Enforcement
SEBI Cancels Rating Agency Licence for the First Time
By Editors | 10/10/2022
Brickwork Ratings India failed to exercise proper skill, care and diligence while discharging its duties as a credit rating agency, SEBI said.
Enforcement
Korea May Start Naming Foreign Firms Engaged in Illegal Short-Selling
By Editors | 09/10/2022
Local securities firms are required to notify investors if they are fined for violating short selling-related rules, but this is not the case for foreign investors.
Enforcement
FSA Bars SMBC Nikko from Block Trades for 3 Months
By Editors | 09/10/2022
SMBC Nikko Securities was also found to have shared confidential information of several corporate clients without their consent with its parent’s banking unit.
Enforcement
New Zealand: Conduct Issues Result in Remediation Worth NZ$150m
By Editors | 08/10/2022
Conduct issues in the life insurance and banking sectors resulted in over NZD 43 million and NZD 109 million in customer remediation, respectively.
Enforcement
HK Court Orders Founder to Buy Shares from Wronged Investors
By Editors | 07/10/2022
The order is the first made to require a listed company executive to buy shares held by other investors “at a price to be determined by the court”.
AML / KYC
Singapore Passes Amendments to Accountants Act
By Manesh Samtani | 06/10/2022
ACRA is empowered to conduct inspections on accounting entities, compel them to remediate lapses identified, and impose sanctions when necessary.
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