The increase in penalties is in part the result of a new calculation method in use at the PBOC, where penalties can now accumulate when multiple breaches occur at once.
FSS governor Yoon Suk-heun also pledged to establish a sustainable monitoring system, in light of events at Lime Asset Management and last year's derivative product mis-selling at banks.
The CSRC has been communicating with US regulators, looking to deepen cross-border cooperation to combat misconduct and fraud and to protect investors.
A lack of cross-border regulation presents a challenge to holding Luckin Coffee entities and executives to account for alleged misconduct and fraud.
A Capital Investment Trust fund manager reportedly bought shares in dozens of companies that he knew would be purchased in the funds he helped manage.
The 'no action' relief can be provided case-by-case to market participants who breach, or expect to breach, a regulatory obligation as a result of Covid-19 circumstances.
Three former non-executive directors of China Ding Yi Feng were censured for breaching the listing rules and disclosure obligations.
The advisory highlights the powers US agencies have to subpoena foreign FIs that maintain a correspondent bank account in the US to gain access to customer records stored overseas.
South Korea's FSS has reportedly instructed the Seoul branch of JP Morgan Securities to strengthen its internal controls on inter-subsidiary relations.
Hin Leong Trading's founder admitted to concealing $800mn in losses from oil futures. The firm now unpaid debts of $3.85bn. Up to 23 banks are affected.
Loading more posts...
Sorry, no more posts
No more pages to load