Enforcement

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.

Australia has become the sixth signatory to IOSCO's enhanced framework for the cross-border cooperation and information sharing by securities regulators to combat technology-aided financial misconduct.

It’s impossible to separate Deutsche Bank’s ongoing regulatory compliance shortcomings from its business exigencies. The recent and unusual censure from the Federal Reserve highlights the bank’s inexorable pressures.

Former SBV deputy governor is being charged with dereliction of duty following a $655mn fraud case arising from government restructuring of weak public sector banks in 2013.

ICBC, ABC and CITIC illegally extended loans to unqualified companies or industries, inflated the size of their deposits, engaged in illegal shadow-banking actives, and had shortcomings in their credit risk management.

FSA issued business improvement orders to six exchanges after it found lax AML processes during on-site inspections. Of the six targeted, BitFlyer has stopped taking on new clients until it makes changes to its client management processes.

CBA will pay a $A5m penalty, A$15m to a financial consumer protection fund, and $A5m towards ASIC's litigation and investigation costs; bank also agreed to enter into enforceable undertaking with ASIC.

FSS found thousands of irregularities in lending rate calculations including omission about income or collateral in credit evaluations, resulting in unfairly high lending rates.

FSA to issue business improvement orders on registered crypto exchanges; self-regulatory industry association to release new voluntary rules on 27 June.

CBA came to an agreement with AUSTRAC on 4 June to pay a A$700mn penalty for contraventions to the AML/CTF law, representing the largest fine in Australian corporate history. Australia’s Federal Court has now ratified the agreement.