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Enforcement
SEBI Fines BSE, NSE for Failure to Detect Karvy Fraud
By Editors | 17/04/2022
Karvy Stock Broking misused INR 23 billion worth of securities belonging to more than 95,000 clients, pledging them with 8 banks to raise INR 8.5 billion for its own use.
Enforcement
Taiwan FSC Fines Cathay United Bank Over ATM Disruptions
By Darien Choong | 14/04/2022
The bank was fined, temporarily barred from setting up new ATMs, and required to increase its operational risk capital by 30 June.
Enforcement
Tokyo Prosecutors Indict SMBC Nikko Securities Deputy President
By Editors | 14/04/2022
The former deputy president is suspected of colluding with other staff to illegally manipulate stock prices to keep block trade deals with clients from falling through.
Enforcement
SFC Bans China Tonghai Securities Representative for 20 Months
By Editors | 12/04/2022
The representative conducted 1,089 trades in clients’ stock options accounts but was only given specific authorisation for 87 trades of the trades.
Enforcement
Shanghai Bourse Probes First STAR Market Securities Fraud Case
By Editors | 12/04/2022
An optical storage equipment supplier is being investigated for failing to disclose that it granted loans to shareholders and other entities in exchange for pledged assets.
AML / KYC
New York Court Convicts Ex-Goldman Exec in 1MDB Case
By Editors | 11/04/2022
Following an eight-week trial, former Goldman Sachs managing director Roger Ng was convicted on charges of bribery and money laundering. He faces up to 30 years in prison.
Enforcement
Westpac Super Trustee Fined for Overcharging Commissions
By Editors | 10/04/2022
On top of a A$20mn penalty, BT Funds Management will pay A$9.8mn in remediation to over 9.900 superannuation members.
Enforcement
ASIC Charges Firm for Offering Crypto Loans Without Credit Licence
By Sanday Chongo Kabange | 09/04/2022
ASIC has charged Helio Lending for falsely representing that it had a credit licence that allowed it to offer cryptocurrency-backed loans.
Enforcement
Singapore Court Upholds Convictions of Russian, Singapore Nationals
By Editors | 08/04/2022
The two men served as resident directors for companies, declaring themselves rather than their Russian clients as the beneficial owners.
Enforcement
Westpac Penalised in Consumer Credit Insurance Mis-selling Case
By Editors | 08/04/2022
Westpac issued consumer credit insurance policies to customers who did not request the product, then asserted a right to payment which customers were not liable for.
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