Enforcement

Enforcement

MAS Reprimands Four FIs Over Remuneration Practices

By Sanday Chongo Kabange | 15/06/2021

Two insurers, two financial advisory firms, and two individuals were reprimanded over breaches related to their risk management arrangements and remuneration  practices.

Enforcement

Japan FSA Orders Suspension of SBI Social Lending Unit

By Editors | 14/06/2021

SBI Social Lending Co solicited funds from investors with false or misleading information in lending agreements.

Enforcement

SFC Suspends GEO Securities Executive for 7.2 Months

By Sanday Chongo Kabange | 11/06/2021

GEO’s breaches were attributable to Lun Sheung Nim’s failure to discharge his duties as a responsible officer and member of the senior management.

Enforcement

ASIC Files Australia’s First Criminal Charges Related to Auditing

By Ranamita Chakraborty | 10/06/2021

The charges against EC Audit and its director allege that the audits of Halifax Investment Services were not conducted in accordance with the relevant standards.

Enforcement

Ex-VP of China Orient Asset Management Under Corruption Probe

By Editors | 10/06/2021

Hu Xiaogang, a former vice president of China Orient Asset Management, is under investigation for suspected corruption.

Enforcement

CBIRC Fines Four Banks for Property Lending Breaches

By Editors | 09/06/2021

Postal Savings Bank of China, China Merchants Bank, China Guangfa Bank and Shanghai Pudong Development Bank were fined a combined CNY 5.3 million.

Enforcement

Chinese Police Detain Sichuan Trust Boss Over Missing Funds

By Sanday Chongo Kabange | 09/06/2021

Liu Canglong, who controls companies with a majority stake in Sichuan Trust, is being held by the public security bureau in Chengdu.

Enforcement

Philippine Prosecutors File Criminal Complaints Over Wirecard Fraud

By Ranamita Chakraborty | 09/06/2021

The criminal complaints accuse respondents of violating banking, cybercrime, and e-commerce laws as well as falsifying commercial documents.

AML / KYC

US DOJ Recovers $2.3mn of Ransom Paid to Colonial Pipeline Hackers

By Sanday Chongo Kabange | 09/06/2021

Investigators were able to track multiple transfers of bitcoin by reviewing the Bitcoin public ledger, and subsequently seized 63.7 bitcoins.