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Enforcement
ASIC to Consider Enforcement Action for Climate Risk Disclosure Failures
By Ranamita Chakraborty | 07/02/2021
ASIC says the law requires climate risk to be included in OFR disclosures, particularly when it is a material risk that could affect financial performance.
AML / KYC
Greater Bay Regulators Sign MoU on Wealth Management Connect
By Manesh Samtani | 07/02/2021
The regulators agree to issue guidance to banks on product due diligence, investor protection, AML/CFT requirements and personal data protection, among other areas.
Enforcement
FSC Penalises Citibank Taiwan Over Reporting Errors
By Editors | 05/02/2021
The bank has been reporting credit data to the JCIC incorrectly since December 2010, potentially impacting the credit scores of certain customers.
Enforcement
London Trader Jailed for LIBOR Manipulation Released
By Editors | 05/02/2021
Tom Hayes told Bloomberg this week that efforts to replace LIBOR were pointless and that the rate was far safer now.
Enforcement
Korea FSS to Punish Top Woori, Shinhan Executives – Report
By Editors | 04/02/2021
Woori Financial Group’s chairman may be suspended from his duties, while the Shinhan Bank’s chief executive may receive a reprimand warning.
Enforcement
Taiwan to Impose Tighter FX Rules to Curb Currency Speculation
By Ranamita Chakraborty | 04/02/2021
The move follows a probe into dubious currency practices at eight major grain merchants in Asia, facilitated by six foreign banks.
Enforcement
CBIRC Identifies Consumer Rights Violations at Everbright Bank
By Editors | 04/02/2021
Financial institutions are asked to use the case as a reference for improving their own consumer rights protection mechanisms.
Enforcement
CBIRC Fines Agricultural Bank of China for Poor Data Security
By Editors | 04/02/2021
The CBIRC said the bank did not properly protect its internal and wireless internet networks there was a risk of data leakage.
Enforcement
CFTC Files Suit Against Nomura Trader for Manipulative Trading
By Editors | 03/02/2021
The former trader manipulated the price of 10-year swap spreads to reflect lower pricing of bonds and a related swap, at the expense of the issuer.
AML / KYC
China Punishes Former CBIRC Official for Corruption
By Editors | 02/02/2021
The ex-head of the CBIRC’s Shanxi bureau was expelled from the Communist Party and referred for criminal prosecution for suspected bribery.
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