Enforcement

    AML / KYC

    US Government Warns Of Rising Business Risk in Hong Kong

    By Editors | 18/07/2021

    A business advisory from four US government agencies says US firms should be aware of the risks they face if they continue operating in Hong Kong.

    Enforcement

    CBIRC Sichuan Official Placed Under Corruption Probe

    By Editors | 17/07/2021

    Li Guorong, the deputy head of the Sichuan bureau of the CBIRC, is being investigated for alleged corruption.

    AML / KYC

    Bangladesh Brokerage Owners Accused of Embezzlement

    By Editors | 17/07/2021

    The BSEC has initiated an inquiry into Banco Securities, which has already had its trading suspended and bank account frozen amid embezzlement allegations.

    Enforcement

    Hong Kong Stock Exchange Issues Revised Enforcement Policy

    By Matt Emsley | 16/07/2021

    Herbert Smith Freehills partners explain the implications of the Hong Kong Stock Exchange’s updated policy statement on Listing Rule enforcement.

    Enforcement

    Bangladesh Probes Loss-making State Banks Over Large Bonuses

    By Sanday Chongo Kabange | 16/07/2021

    Under existing rules, employees should not receive incentive bonuses from state-owned commercial banks if they fail to make a profit.

    Enforcement

    Chinese Regulators Penalise Dagong Global Credit Rating

    By Sanday Chongo Kabange | 16/07/2021

    Dagong failed to adequately scrutinise or inspect the businesses it was evaluating, and adjusted its ratings models without giving sufficient reason.

    Enforcement

    RBI Imposes Restrictions on Mastercard Over Data Storage

    By Editors | 15/07/2021

    The action may hamper the ability of private banks to issue new cards to customers in the near term due to their exclusive tie-ups with Mastercard.

    Enforcement

    China to Require Cybersecurity Reviews Before Firms List Overseas

    By Manesh Samtani | 14/07/2021

    Companies that have personal information of more than 1 million users must submit to a cybersecurity review by the Office of Cybersecurity Review.

    AML / KYC

    Malaysia Files Suit Against KPMG Partners Over 1MDB Losses

    By Editors | 13/07/2021

    The Malaysian government and 1MDB filed a $5.64bn lawsuit against 44 current and former KPMG partners over the firm’s audits of 1MDB’s financial statements.

    Enforcement

    RBI Penalises Fourteen Banks Over NBFC Lending

    By Editors | 12/07/2021

    The banks include Credit Suisse, Central Bank of India, SBI, Bank of Baroda, Bank of Maharashtra, IndusInd Bank, and Indian Bank, among others.

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