Enforcement

Enforcement

China May Transfer Huarong to Sovereign Wealth Fund – Report

By Sanday Chongo Kabange | 16/04/2021

Huarong’s failure to publish its earnings by its 31 March deadline has prompted concerns of a default by China’s largest distressed debt manager.

Enforcement

SFC Fines Optimas Capital Over Short Position Reporting Errors

By Editors | 15/04/2021

The errors occurred as a result of a programming mistake in a script created to automate the process of identifying reportable short positions.

AML / KYC

Hong Kong: Nine Arrested for Laundering HK$900 Million

By Editors | 15/04/2021

Part of the laundered funds came from 55 victims of investment frauds and romance scams, police say.

Enforcement

BaFin Faces Criminal Probe Over Wirecard Response

By Sanday Chongo Kabange | 14/04/2021

BaFin has been under fire since mid-last year for failing to properly respond to multiple red flags signalling an accounting fraud at Wirecard.

AML / KYC

MAS Penalises Bank J. Safra Sarasin for SoW/SoF Failures

By Manesh Samtani | 14/04/2021

The bank failed to establish the source of wealth and source of funds of customers and beneficial owners of higher-risk customers, MAS said.

AML / KYC

HSBC Agrees to Share Documents in Meng Extradition Case

By Editors | 14/04/2021

A Hong Kong judge has approved an agreement between Huawei and HSBC that includes document sharing by the bank, with some redactions.

Enforcement

SEBI Fines Yes Bank, Three Others for Mis-selling AT1 Bonds

By Editors | 13/04/2021

SEBI says Yes Bank misled individual investors into buying risky AT1 bonds and did not inform them of the risks involved or conduct risk profiling.

Enforcement

Australian Charged With Insider Trading Over Diamond Discovery

By Editors | 13/04/2021

The man traded while in possession of inside information relating to a diamond discovery by Lonrho Mining in Africa in 2012.

Enforcement

Nomura Establishes Internal Team to Probe Archegos Loss

By Sanday Chongo Kabange | 13/04/2021

Nomura has set up the team to look into the bank’s risk management practices. It plans to disclose details of Archegos loss in late April.