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Enforcement
Second Ex-Chairman of Hengfeng Bank Gets Death Sentence
By Editors | 08/11/2020
The former chairman will have his sentence commuted to life in prison if he commits no further crime over the next two years.
Enforcement
SC Malaysia Wins MYR 3.1m in Insider Trading Case
By Sanday Chongo Kabange | 05/11/2020
The former senior partner of a law firm acquired shares in Worldwide Holdings in the months leading up to an announcement that the firm would be privatised.
Fintech / Regtech
MAS Targets Market Abuse, Misconduct, AML Control Breaches
By Editors | 04/11/2020
In its latest enforcement report, MAS highlights its work to strengthen early detection of market misconduct, including through Apollo, an augmented intelligence system.
Enforcement
New Zealand FMA Proposes New Guidance on KiwiSaver Fees
By Editors | 04/11/2020
The proposed guidance sets out ongoing obligations for KiwiSaver schemes to regularly review their fees to ensure members not being charged unreasonable fees.
Enforcement
BaFin, FREP Were Deficient in Supervising Wirecard, says ESMA
By Editors | 04/11/2020
ESMA says it identified deficiencies, inefficiencies and legal and procedural impediments in the supervisory response to Wirecard between 2016 and 2018.
Enforcement
ASIC Secures A$10m in Refunds for Customers from Allianz
By Sanday Chongo Kabange | 04/11/2020
Up to 31,000 consumers have been remediated for misconduct relating to the sale of travel insurance through Allianz’s own website and those of its partners.
Enforcement
Korean Prosecutors Raid Brokerage Firms Over Lime Asset Mis-selling
By Shruti Khairnar | 02/11/2020
Investigators from Seoul’s prosecution office raided the headquarters of Shinhan Investment Corp, Korea Investment & Securities, and KB Securities last week.
Enforcement
KRX Probes Market Makers’ Compliance With Short Selling Rules
By Editors | 02/11/2020
The inspection will cover all 22 market makers, focusing on whether they conducted naked short selling and whether they violated the uptick rule.
Enforcement
CBA to Pay Penalty for Increasing Problem Gambler’s Credit Limit
By Editors | 01/11/2020
ASIC launched civil proceedings against CBA in March alleging that the bank failed to take account of a notification by a customer that he was a problem gambler.
Enforcement
MAS Bans Two Former Bankers for Fraud, Dishonest Conduct
By Editors | 01/11/2020
The former OCBC treasury advisor placed unauthorised FX trades in client accounts, while the former UOB relationship manager made unauthorised bank transfers.
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