Enforcement

Crypto / Digital Assets

NZ FMA Warns Influencers Against Providing Financial Advice

By Ranamita Chakraborty | 30/06/2021

Social media influencers do not want to find themselves caught offering advice they’re not qualified or authorised to give, warns FMA chief Rob Everett.

Enforcement

Ex-Shanghai Clearing House Chief Expelled from CCP for Corruption

By Sanday Chongo Kabange | 30/06/2021

Xu Zhen has been expelled from the CCP for borrowing large sums of money using the SCH’s management services and accepting bribes.

Enforcement

Philippine SEC Threatens Online Lenders with Licence Revocation

By Sanday Chongo Kabange | 29/06/2021

The threat is aimed at lending and financing companies that have failed to register and disclose their online lending platforms.

Enforcement

CBIRC Bans Ex-President of Sichuan Trust for 8 Years

By Sanday Chongo Kabange | 29/06/2021

Former Sichuan Trust president Chen Jun is being punished for his role in the firm’s failure to repay investors about CNY 25 billion.

AML / KYC

New FATF Report Sounds Alarm Over Environmental Crime

By Manesh Samtani | 29/06/2021

The report highlights the use of trade-based fraud and shell companies by criminals to launder proceeds from environmental crime.

Enforcement

Korea FSC Extends Optimus Suspension for Six More Months

By Sanday Chongo Kabange | 28/06/2021

A new fund management company is being set up to take over and manage funds previously operated by Optimus Asset Management.

Enforcement

105 More Charges Laid Against Hin Leong Founder

By Editors | 27/06/2021

Lim Oon Kuin now faces a total of 130 charges, including 68 for cheating, 47 for abetment of forgery, and 14 for abetment for forgery for the purpose of cheating.

Enforcement

ASIC Removes SocGen Securities Licence Conditions

By Ranamita Chakraborty | 27/06/2021

Independent expert did not identify any deficiencies in the adequacy and effectiveness of SocGen’s client money controls.

AML / KYC

FATF Plenary Packs Powerful Punch

By Manesh Samtani | 25/06/2021

The FATF finalised reports on technological innovation, environmental crime, and asset recovery. New guidance on PF risk and a white paper on beneficial ownership were also finalised.