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Enforcement
ASIC Commences Legal Proceedings Against NAB Over Unlawful Fees
By Editors | 27/02/2021
ASIC says NAB charged some customers periodic payment fees when they were entitled to an exemption, and charged other customers the wrong fee.
Enforcement
SFC, FRC to Enhance Regulatory Cooperation in Capital Markets
By Editors | 25/02/2021
Collaboration will be key to combat persistent problems with false or misleading financial statements and other corporate misconduct, said SFC Chairman Tim Lui.
Enforcement
MAS Bans Former Insurance Broker for Dishonest Conduct
By Editors | 25/02/2021
The former insurance broker was banned for unauthorised selling of general insurance when he was only licensed to sell life policies.
Enforcement
ASIC Offers Immunity to Market Misconduct Whistleblowers
By Editors | 25/02/2021
Under ASIC’s new immunity policy, individuals who have engaged with others to commit market misconduct offences can seek immunity by reporting the misconduct.
Enforcement
FSS Korea Orders Woori, IBK to Compensate Lime Investors
By Editors | 25/02/2021
The FSS will encourage banks and securities firms that sold frozen Lime funds to voluntarily settle disputes with other investors based rates set at the ruling.
AML / KYC
Singapore Police Set to Charge Suspect in Covid-19 Scam
By Editors | 24/02/2021
Last March, the suspect used the identity of a legitimate company to advertise and sell surgical masks and hand sanitisers that were never delivered.
AML / KYC
Australian Police Charge Man for Crypto Related Money Laundering
By Editors | 23/02/2021
Police say the Sydney man directed “money launderers for hire” to convert nearly A$5.5mn of cash into bitcoin on his behalf.
Enforcement
SFC Fines Asset Manager for Short Position Reporting Errors
By Editors | 23/02/2021
The SFC found that 7,814 short positions held by collective investment schemes managed by Brilliance Asset Management were either misstated or omitted.
Enforcement
Targeted Product Intervention to Lead to ‘Less Regulation’: ASIC
By Ranamita Chakraborty | 22/02/2021
Commissioner Sean Hughes said ASIC will only need to intervene when there are signs of harm and misconduct, emphasising the checks and balances in place.
Enforcement
HKEX Probes for Rule Violations by Retail IPO Investors
By Editors | 22/02/2021
Brokers involved in the New Horizon Health IPO have been asked to provide information on the retail investors who were allotted stocks.
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