Supreme Court says auditors lack adequate oversight, have breached central bank and foreign direct investment rules and Chartered Accountants Act.
BNM proposals resemble Hong Kong’s MiC regime in setting out key responsibilities and requiring appointment and naming of responsible individuals.
Criminal charges laid by securities regulator nearly tripled in last nine months of 2018, although investigations started and concluded declined.
Australian banks paid an additional $16.7mn to compensate customers affected by “non-compliant” financial advice between 2009 and 2015.
Banking regulator seeks to send a warning to financial institutions of the consequences of misbehaving
Report outlines enforcement actions on market manipulation against Milford Asset Management trader, investigation into trading at Goldman Sachs, other cases of misconduct.
Central bank audits failed to detect loan fraud using Punjab National Bank guarantees for over seven years; overseas branches which granted loans also under scrutiny.
For the first time, visitors to Hong Kong will soon have to declare cash they bring in. But money laundering will continue to flourish.
New body merges three existing complaints authorities; will streamline complaints process and quicken dispute resolution for customers.
CBRC proposals would require banks to set up conduct management departments, submit conduct codes to regulator, establish whistle blower mechanism.