ENFORCEMENT

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    Enforcement

    China Sentences Ex-ICBC Executive Zhang to Death with Reprieve

    By Mark Johnston | 24/02/2025

    Zhang Hongli was found to have accepted CNY 177 million in bribes in exchange for facilitating loans and securing employment positions for others.

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    Enforcement

    Federal Court Orders AustralianSuper to Pay A$27m Penalty

    By Thisanka Siripala | 24/02/2025

    AustralianSuper failed to merge duplicate accounts, resulting in members incurring redundant administration fees, insurance premiums, and lost investment earnings.

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    Enforcement

    FSS Korea’s 2025 Inspection Strategy to Target Internal Controls

    By Thisanka Siripala | 23/02/2025

    The FSS will conduct 9% more inspections in 2025 compared to 2024, focusing on areas such as internal controls, risk prevention, misconduct, and high-risk product sales.

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    Enforcement

    FTX Begins Creditor Repayments After Three-Year Wait

    By Nithya Subramanian | 23/02/2025

    The FTX estate has started distributing funds to creditors, with initial payouts prioritising small claims under $50,000.

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    Enforcement

    DBS Wealth Manager Pleads Guilty on Cheating Charges

    By Nithya Subramanian | 21/02/2025

    The former bank employee lured clients into making investments and then had them transfer funds into his personal accounts.

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    Enforcement

    FSC Korea Fines Nine Securities Firms for Capital Market Act Violations

    By Thisanka Siripala | 21/02/2025

    Nine firms were fined a combined $240mn for misconduct involving their handling of bond-type wrap products and trusts for clients.

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    Enforcement

    India Enforcement Directorate Seizes $190m Related to BitConnect Scam

    By Nithya Subramanian | 21/02/2025

    The ED the f’s investigation revealed that the founder of BitConnect and his associates ran an unregistered, fraudulent investment scheme.

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    AML / KYC

    Digital Currency Exchanges on Notice Amid AUSTRAC Compliance Blitz

    By Nathan Lynch | 20/02/2025

    Crackdown from AUSTRAC could be just the tip of the iceberg for crypto exchanges, as some could also face follow-up enforcement action.

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    Enforcement

    Indian Tax Authorities Hit Aviva with $7.5m Fine

    By Nithya Subramanian | 19/02/2025

    Tax authorities said by using fraudulent invoices and cash payments, Aviva wrongly claimed tax credits and evaded taxes.

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    Enforcement

    Mizuho Bank Discloses Safe Deposit Box Theft from 2019

    By Thisanka Siripala | 19/02/2025

    Mizuho Bank said it tightened its system of storing spare keys after an employee stole from customer safe deposit boxes in 2019.

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