Enforcement
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643Punjab National Bank Detects $550mn Fraud by Indian Steelmaker
Editors, Regulation Asia July 9, 2019Punjab National Bank says Bhushan Power & Steel misappropriated bank funds and manipulated its books to raise funds from lenders.
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614ICBC Shanghai Branch Deputy Under Investigation – Report
Editors, Regulation Asia July 9, 2019Regulators have reportedly found ICBC's Shanghai branch deputy head to be in violation of regulations related to fundraising and buying wealth management products.
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624PBOC Suspends Traders for ‘Abnormal’ Overnight Repo Transactions
Editors, Regulation Asia July 9, 2019The trades involved overnight bond repo transactions in the interbank market at prices below normal market rates.
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795SFC Warns Against Misconduct Involving Acquisitions, Disposals
Editors, Regulation Asia July 6, 2019Directors of listed companies have a duty to exercise due and reasonable care, skill and diligence when evaluating or approving the acquisition or disposal of a company or business.
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1.1KFormer Barclays Singapore Director Gets 13-Year Jail Term
Editors, Regulation Asia July 5, 2019The former private banker forged signatures and documents to siphon off $10mn from client bank accounts between 2010 and 2013.
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925
Goldman Banker Tim Leissner Banned for Life in Hong Kong
Editors, Regulation Asia July 4, 2019Leissner’s conduct in relation to the Malaysian state fund 1MDB called into question his fitness and properness to be a licensed person, the SFC said.
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1.2KHong Kong Hedge Fund Penalised by CFTC, CME
Editors, Regulation Asia July 4, 2019Elephas Investment Management was found to have violated wheat futures speculative position limits established by the CFTC.
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775SFC Gains Access to Mainland Audit Papers for Investigations
Editors, Regulation Asia July 4, 2019The MOF and CSRC agree to provide the "fullest assistance" in response to SFC requests for investigative assistance regarding the provision of audit working papers.
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658Stronger Whistleblower Protections Take Effect in Australia
Editors, Regulation Asia July 2, 2019The stronger protections for whistleblowers apply to misconduct or an improper state of affairs or circumstances, not just breaches of the law.
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639MUFG Bank Reaches Settlement with New York State Regulator
Editors, Regulation Asia June 28, 2019The agreement settles claims relating to MUFG's switch from state to federal oversight in November 2017, as New York regulators asserted continuing regulatory authority.
