The FSC will impose lower penalties than what was recommended by the FSS, citing the two banks’ cooperation and their agreements to compensate clients for damages.
The adviser misrepresented the value of his client’s portfolio on 19 separate occasions, and engaged in trading without proper authority of the client.
Capital Global Management Limited was distributing offshore investment funds and offering investment advice in Taiwan despite not being authorised by Taiwan's regulator.
The FSC will cap illiquid investments at 50% for open-ended funds, require them to conduct regular stress tests, raise transparency of complex fund structures, and enhance supervisory monitoring.
Hu Huaibang is said to have used his position to help CEFC China Energy and HNA Group obtain billions of dollars in credit that fuel their expansions.
In private communications with banks, OFAC has been blocking usually-permissible payments with any overseas account that officials believe separately handled funds for North Korea.
The lawsuit seeks $90mn initially, seeking to recover funds linked to fraudulent payments, as well as legal, regulatory and investigation costs already incurred by Nissan.
Malaysia has filed new charges against fugitive financier Jho Low and two PetroSaudi International directors over their alleged roles in the 1MDB scandal.
The introduction of AI will help isolate unusual activity by learning from historical trading patterns and filtering out noise.
The four Chinese nationals are charged for breaking into Equifax's computer systems to steal US citizens' personal data and sensitive trade secrets.