ENFORCEMENT

    Enforcement

    Targeted Product Intervention to Lead to ‘Less Regulation’: ASIC

    By Ranamita Chakraborty | 22/02/2021

    Commissioner Sean Hughes said ASIC will only need to intervene when there are signs of harm and misconduct, emphasising the checks and balances in place.

    Enforcement

    HKEX Probes for Rule Violations by Retail IPO Investors

    By Editors | 22/02/2021

    Brokers involved in the New Horizon Health IPO have been asked to provide information on the retail investors who were allotted stocks.

    AML / KYC

    US Prosecutors Unveils New Charges Against North Korean Hackers

    By Manesh Samtani | 21/02/2021

    Warrants have been issued for the arrest of the three programmers said to be involved in the Sony, WannaCry, Bangladesh Bank and other attacks.

    Enforcement

    Singapore Police Investigate Nickel Trading Investment Fraud

    By Editors | 21/02/2021

    Envy Asset Management and Envy Global Trading are suspected of using investors’ funds to finance nickel trading activities. Both have had their bank accounts frozen.

    AML / KYC

    UK, Canada Impose Sanctions Against Myanmar Officials

    By Manesh Samtani | 21/02/2021

    Human Rights Watch is calling for economic sanctions, travel bans and asset freezes for leaders of Myanmar’s military, military business conglomerates and the new governing body.

    AML / KYC

    HK Banks Used to Launder Over HK$8bn in Scam Proceeds in 2020

    By Editors | 21/02/2021

    More than 10,000 bank accounts are believed to have been used in 2020 to collect and launder the funds before being channelled out of Hong Kong.

    AML / KYC

    OFAC Settles Sanctions Case Against Crypto Payments Processor BitPay

    By Editors | 20/02/2021

    BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.

    AML / KYC

    Australian Banks Facilitate Arrest of Phishing Tool Developer

    By Ranamita Chakraborty | 19/02/2021

    The developer of a phishing kit used to steal tens of millions of dollars from bank accounts in 11 countries has been arrested in Ukraine.

    AML / KYC

    Ant Group Undeclared Beneficial Owners Caused IPO Suspension

    By Editors | 18/02/2021

    The Wall Street Journal says Ant Group’s IPO was suspended last year due to its complex ownership structure and an unease over the likely beneficiaries of the listing.

    Enforcement

    ASIC Seeks Penalties from CBA for Overcharged Interest

    By Editors | 17/02/2021

    Due to a systems error, CBA charged more than 1,510 customers a higher interest rate than they were advised, amounting to A$2.2 million in overcharged interest.

    JOIN OUR NEWSLETTER

    A daily selection of top stories from the Regulation Asia editorial team