Enforcement

The Reserve Bank of India has fined Indian Bank 10 million rupees for deficiencies in regulatory compliance with cybersecurity norms.

US officials have asked Hong Kong to bolster sanctions enforcement as Huawei's deputy chairwoman stands accused of violating Iran sanctions through a Hong Kong shell company.

The powers granted under the bill allow law enforcement agencies to compel access to encrypted messages, which could have broader implications for financial services.

The US SEC has filed charges against an outsourced IT contractor for trading on inside information while working at the Singapore branch of an investment bank.

The CBIRC has fined six banks a combined 156.3 million yuan for breaching rules on wealth management products, lending, and misleading advertising.

South Korea's FSC and FSS have jointly become the 10th member of IOSCO's EMMoU, which enables cross-border sharing of audit papers and telecommunications and internet records.

SFM HK Management Ltd, owned by New York's Soros Fund Management, was fined HK$1.5mn for short selling Great Wall Motors bonus shares before they were available for trading.

The move to unify regulation of the bond markets under one authority is aimed at improving the overall regulatory system and preventing systemic risk.

The court-suppressed penalties were paid by the RBA subsidiaries to settle charges of conspiracy to bribe foreign officials for the purpose of obtaining or retaining business.

The FSC found that  Goldman Sachs conducted naked short selling worth about KRW 40 billion in late May. Naked short selling is prohibited in South Korea.