The real cost of doing business in China was suddenly revealed with Credit Suisse’s settlements totalling $77 million with the SEC and DOJ over its alleged violations of the Foreign Corrupt Practices Act by employing Chinese princelings and princesses.
Annual declarations, auditor reports and director change notifications were submitted up to three years late by Taiyo Asset Management; director found guilty of misconduct for failure to implement compliance controls.
Yao Gang charged with taking advantage of his position, accepting money and gifts, and insider trading; two other CSRC officials also charged
ASIC investigation revealed the two provided false payslips and letters of employment, among other documents, in support of loan applications.
Over 900 investors were persuaded to invest over NZ$8mn with registered foreign exchange provider BlackfortFX, though the firm did not conduct any investment activity.
The Commonwealth Bank of Australia is being sued by a class of investors backed by large institutional investors in Australia, Europe and North America for disclosure failures that artificially inflated the bank's share price.
Former SBV deputy governor received a three year jail sentence for his role in a mismanagement and loan underwriting scandal that led to losses of $655 million at Vietnam Construction Bank
RBI has introduced a framework to define lapses in bank auditor conduct and reporting as well as enforcement action to be taken as a result of such lapses.
Citibank Korea, BNK Kyongnam Bank and KEB Hana Bank are being investigated by FSS over allegedly manipulating loan rates to overcharge retail borrowers.
New EU data privacy law could put cross-border investigations in jeopardy, leading non-EU regulators including Japan's FSA and Hong Kong's SFC to press for formal clarification on application of cross-border information sharing exemptions.