China’s central bank issued a warning on all illegal fundraising, including through financing intermediaries, online finance platforms, real estate, agriculture, ICOs.
Toolkit offers options on standards and codes of behavior, measures related to wholesale market conduct, guidance on compensation, and tools for strengthening governance.
As the country looks to increase grass-roots access to finance, it will require greater engagement with the international financial community, requiring greater focus on preventing financial crime.
Criminal offences can result in 10 years imprisonment or $725,000 for individuals; or the larger of $7.25 million, 3 times the benefits, or 10% of annual turnover for companies.
Proposed bill will limit cash payments by corporations and individuals to a maximum of IDR100 million, or USD7,200.
Australian banks take on average over 4 years to identify misconduct, over 4 months to report it, over 7 months post-investigation to compensate customers.
Draft law provides ASIC with wider range of tools to enforce better protections for client money held for OTC derivatives.
Election watchdog finds governor Kim Ki-sik in violation of laws for overseas trips sponsored by financial institutions and political donations.
Wealth manager AMP covered up for years a policy of charging customers fees for advice they never received; sought to influence “independent” review into the practice to protect executives.
The firm failed to put in place reasonable controls to ensure non-proprietary orders received execution priority, prevent erroneous and disorderly orders being sent to the market.