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Enforcement
Australian Court Orders Penalty Against CBA for Overcharged Interest
By Editors | 10/04/2021
CBA was ordered to pay A$7mn for a systems error that resulted in over 1,500 customers being charged a higher interest rate on overdraft accounts.
Enforcement
Malaysian Court Orders Restitution for 2009 Investment Scheme
By Editors | 10/04/2021
The Securities Commission had filed a civil suit against RBTR Asset Management and five others in 2009 for misleading investors.
AML / KYC
Sydney Court Jails Man for Cryptocurrency Money Laundering
By Sanday Chongo Kabange | 08/04/2021
The man used other people’s identities to set up accounts with a cryptocurrency provider, which he used to withdraw stolen bitcoin.
Enforcement
Indian Court Lifts Freeze Order on ByteDance Bank Accounts
By Ranamita Chakraborty | 08/04/2021
ByteDance is required to deposit around $10.6mn in a state-run bank, the amount tax authorities claim the company owes.
Enforcement
NH Investment Asked to Fully Compensate Optimus Investors
By Editors | 08/04/2021
An FSS arbitration panel has advised NH Investment to pay full compensation to two investors for failing to properly explain the risks of Optimus funds.
Enforcement
US Court Dismisses Collusion Case Against 10 Global Banks
By Sanday Chongo Kabange | 08/04/2021
The judge dismissed a case against 10 banks alleging manipulation of the US Treasuries market due to a lack of evidence of a conspiracy.
Enforcement
Ex-Shanghai Clearing House Chief Charged With Corruption
By Sanday Chongo Kabange | 08/04/2021
Xu Zhen was charged with corruption and bribery for violating rules on executive pay to benefit himself and those close to him.
Enforcement
SFC Wins Final Appeal in 2007 Insider Dealing Case
By Manesh Samtani | 07/04/2021
The Market Misconduct Tribunal and Court of Appeal both ruled against the SFC before the case was brought to the Court of Final Appeal.
Enforcement
SFC Adds ‘Ramp-and-Dump’ Syndicate Member to Wanted List
By Editors | 07/04/2021
An arrest warrant was issued for Zeng Lingxi, an alleged member of a syndicate suspected of operating ramp-and-dump scams on social media.
Enforcement
ASIC Launches Legal Action Against CBA for Overcharging Customers
By Editors | 06/04/2021
ASIC says CBA incorrectly charged monthly access fees to customers who were entitled to fee waivers between June 2010 and September 2019.
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