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Enforcement
New Zealand: Class Action Filed Against ANZ, ASB
By Editors | 04/10/2021
The class action reportedly involves interest and fees ANZ and ASB were not entitled to charge due to breaches of their disclosure obligations.
Enforcement
CFTC Penalises Interactive Brokers Over Negative Oil Prices
By Editors | 02/10/2021
Interactive Brokers was penalised for not adequately preparing for and configuring its electronic trading system to recognise negative prices on 20 April 2020.
AML / KYC
AFP Wins First Asset Confiscation Case Under Operation Ironside
By Editors | 01/10/2021
A$6mn in cash obtained as a result of the forfeiture order will be redistributed to support crime prevention, law enforcement and related community initiatives.
AML / KYC
NZ FMA Toughens Approach to AML Non-Compliance
By Manesh Samtani | 30/09/2021
The FMA’s James Greig noted a lower tolerance for AML/CFT non-compliance, given the regime has been in place for eight years.
AML / KYC
US DOJ Links Singapore, Hong Kong to Tax Evasion Case
By Editors | 30/09/2021
An unsealed indictment shows that six individuals and a Swiss firm used accounts in Singapore and Hong Kong to help US clients evade taxes from 2009 to 2014.
Enforcement
CSRC Issues Draft Rules Promoting ‘Honest’ Investment Banking
By Editors | 30/09/2021
The draft rules require investment banking intermediaries to strengthen risk control and strictly prohibit the use of below-market pricing to win business.
AML / KYC
Hong Kong Sees Spike in Investment Scam Losses – Report
By Editors | 29/09/2021
Victims lost HKD 2.5 billion from investment scams between January and July, a 20-fold increase compared to the same period last year.
Enforcement
Ex-CBIRC Official Took Bribes During Baoshang Takeover – Report
By Editors | 29/09/2021
Li Guorong is accused of taking bribes from entrepreneurs while serving as deputy head of a team appointed to take over Baoshang Bank.
Enforcement
Shenzhen Regulator Launches Probe into Evergrande Wealth
By Editors | 29/09/2021
The Shenzhen Financial Regulatory Bureau said a “thorough investigation” into Evergrande Wealth has been launched following investor demands for an inquiry.
Enforcement
Enforcement Should Drive Good Conduct, says HKEX’s Jon Witts
By Manesh Samtani | 28/09/2021
HKEX’s approach to enforcement is designed to drive better conduct, governance and compliance culture, says Head of Listing Enforcement Jon Witts.
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