Some managers of privately-offered funds are using capital intended for specific investments on themselves or to illegally operate P2P lending businesses.
Whistleblowers will be eligible for rewards up to $139,000 and, if culpable themselves, for amnesty or settlement with SEBI.
Under the proposed law, Australians would face up to two years’ jail and A$25,200 in fines if cash transactions between business and individuals exceed A$10,000.
The former branch manager has already received a permanent ban from ASIC for making false and misleading statements to NAB in relation to 24 home loan applications.
The individuals, including a news editor, were fined for spreading ‘fabricated’ news that the CSRC blames for stock market declines in late January.
The case relates to the 2017 conviction of a former UBS associate director for accepting over HK$1.4mn in bribes from a Shenzhen-based client.
In addition to the 13 referrals from the royal commission, ASIC has been investigating “three times as many” case studies with a view to initiating legal proceedings in the new few weeks.
A New Zealand court has reportedly convicted an unauthorised financial adviser of 38 charges relating to a long-running fraud which funded a lavish lifestyle of private jets and jewellery.
The MoU covers case referrals, joint investigations, the exchange and use of information, mutual provision of investigative assistance, and capacity building.
Under the government's implementation roadmap, close to 90% of its remaining commitments will be implemented by mid-2020, and legislation for the rest will be introduced by end-2020.