Enforcement

AML / KYC

Beijing Financial Court Created to Counter US Long Arm Jurisdiction

By Sanday Chongo Kabange | 23/03/2021

The extraterritorial application of China’s financial laws will play a bigger role in opening up the domestic market, the Supreme People’s Court said.

Enforcement

Malaysia SC Probes Share Disposals by AmBank Execs

By Sanday Chongo Kabange | 23/03/2021

Seven executives sold a combined MYR 1.63 million in shares on the same two days in December, just two months ahead of AmBank’s 1MDB settlement.

Enforcement

CBA, ANZ to Settle 2016 Lawsuit Involving BBSW Manipulation

By Editors | 23/03/2021

The case was initially launched by two US hedge funds and a US-based derivatives trader, alleging they suffered losses due to bank manipulation of the BBSW.

AML / KYC

Singapore Police Issue First Charges in Nickel Trading Fraud Case

By Editors | 22/03/2021

At least SGD 1 billion was invested for the purported sale and purchase of nickel, making the case one of the largest financial fraud cases in Singapore.

Enforcement

CBIRC Finds Violations in XW Bank’s Consumer Loans Business

By Editors | 22/03/2021

Xiaomi-backed digital bank, XW Bank, breached financial regulations for charging over 30 percent interest on consumer loans.

AML / KYC

EU Sanctions Officials from China, Myanmar, Others

By Editors | 22/03/2021

The EU, US, UK and Canada all imposed sanctions against Chinese officials and entities on Monday, citing human rights abuses in Xinjiang.

Enforcement

Taiwan Regulators Steps Up Scrutiny of Clubhouse App

By Ranamita Chakraborty | 22/03/2021

The social media app restricts voice recording without the consent of every speaker in a chat room, which may create a loophole for stock manipulators.

AML / KYC

AUSTRAC Questioned on Handling of Drug Money Case

By Editors | 21/03/2021

AUSTRAC reportedly said it has not taken action against the banks involved because they did not have reason to be suspicious of the transactions and they aided the investigation.

Enforcement

CBIRC Fines Sichuan Trust Over Illegal Loans, Other Violations

By Editors | 21/03/2021

The CBIRC listed 13 violations for the CNY 34.9 billion fine. A team of officials already took control of Sichuan Trust in December following its failure to repay investors.