Enforcement
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291New Chief of S.Korea’s FSS Targets Bank Profiteering from Predatory Lending
Manesh Samtani, Regulation Asia April 5, 2018New FSS chief to protect investors and root out irregularities by targeting predatory lending, bank profit structures, family-run conglomerates.
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261China Launches Crackdown on Unlicensed Online Asset Managers
Editors, Regulation Asia April 5, 2018Chinese authorities step up focus on the online asset management industry to clean up unlicensed firms.
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278PNB Investigation Reveals Systemic Failures at Bank, RBI
Garima Chitkara, Regulation Asia April 5, 2018PNB allegedly misled the regulator about the progress of its Swift integration. Indian law enforcement noted that an ill-defined risk-based supervisory approach may have caused the RBI to miss the fraud.
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360Sri Lanka Investigating “Suspicious” Chinese-held Bank Accounts
Garima Chitkara, Regulation Asia April 2, 2018Sri Lanka’s financial crimes unit is investigating suspicious transactions originating from three Chinese-held accounts with LKR957 million.
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388Australia’s Largest Tax Fraud Case Ends with 10-year Jail Sentence
Samuel Riding, Regulation Asia April 2, 2018Duo spent $103mn in illicit gains on Rolls Royces, a Lamborghini, an Aston Martin, a Mercedes, a BMW and yachts
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429CSRC Flexes Muscles with Internal Control, Market Integrity Rules
Samuel Riding, Regulation Asia April 2, 2018Securities regulator, which remains independent after recent reshuffle, tightens rules on investment bank internal controls, securities and futures market participation.
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361ICICI Bank Fined for Failing to Disclose Debt Securities Sale
Garima Chitkara, Regulation Asia March 31, 2018ICICI Bank sold debt securities from its held-to-maturity portfolio in excess of 5 percent of total value without the necessary disclosure in contravention with RBI rules.
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344Chinese Government Approves WMP Clampdown
Editors, Regulation Asia March 30, 2018New rules to reduce leverage, ban guarantees; financial court to be set up in Shanghai will jurisdiction over major legal cases.
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329Royal Commission Exposes Multiple Lending Practice Failures at Big Four
Manesh Samtani, Regulation Asia March 29, 2018Public inquiry’s first round of hearings reveals multiple failures at ‘big four’ banks to lend in customers' best interests.
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352Australian Bank Conduct Code to be Compulsory
Editors, Regulation Asia March 28, 2018Code being considered by ASIC will be binding, with self-regulatory body given power to investigate misdemeanours and issue sanctions.
