Enforcement

AML / KYC

HKMA, SFC Issue FAQ on ‘Offence Related Property’ Under NSL

By Editors | 25/10/2021

FIs “must” disclose to the JFIU property held by persons charged for offences under the National Security Law regardless of the portion of shareholdings.

Enforcement

CFTC Pays Record-breaking $200m Whistleblower Award

By Editors | 24/10/2021

The award is the largest whistleblower payout on record, and for the first time includes an amount based on sanctions collected by a foreign regulator.

AML / KYC

US Signals More Balanced Approach to Sanctions Policy

By Manesh Samtani | 23/10/2021

The US will move to a sanctions policy that is more clearly linked to policy objectives and reduces harm caused to individuals and businesses.

Enforcement

CSRC to Pilot Arbitration System for Capital Market Disputes

By Darien Choong | 22/10/2021

Arbitration courts in Beijing, Shanghai and Shenzhen will help to facilitate the resolution of disputes in the securities and futures market.

Enforcement

MAS Proposes to Improve Fairness of Appeals Process

By Manesh Samtani | 21/10/2021

Proposed changes to the Appeals Regulations would allow appellants to review MAS’ reasons for a decision before filing their petition for appeal.

Enforcement

Appeals Tribunal Affirms SFC Punishment of Yi Shun Da Capital

By Sanday Chongo Kabange | 21/10/2021

The Appeals Tribunal upheld the SFC’s decision to punish Yi Shun Da Capital over sponsor failures but reduced the penalty amount.

Enforcement

CFTC Fines Tether as US Regulators Scrutinise Crypto Markets

By Mark Johnston | 21/10/2021

The CFTC has fined Tether $41mn and Bitfinex’s parent $1.5mn. Meanwhile New York prosecutors have directed two crypto lending platforms to cease operations.

AML / KYC

AUSTRAC Seizes Star Casino Files in Money Laundering Probe

By Sanday Chongo Kabange | 20/10/2021

AUSTRAC is reported to be building a case against Star Entertainment Group over alleged shortcomings in its AML/CTF controls.

AML / KYC

Credit Suisse Settles Charges Over Mozambique ‘Secret Debt’

By Editors | 20/10/2021

Transactions that raised over $1bn were used to “perpetrate a hidden debt scheme”, pay kickbacks to investment bankers, and bribe government officials.