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Enforcement
Enforcement
ICAC Charges Four Audit Staff Over False Accountants’ Reports
By Sanday Chongo Kabange | 07/05/2025
The ICAC said the audit staff defrauded their principal as well as HKEX to secure the listing of a Macao construction firm.
Enforcement
US Settles Credit Suisse Tax Evasion Probe Involving Singapore
By Nithya Subramanian | 07/05/2025
From 2014 to 2023, Credit Suisse’s Singapore branch held over USD 2 billion in undeclared accounts for US taxpayers.
Enforcement
TikTok Fined for Breaching GDPR With China Data Transfers
By Editors | 07/05/2025
TikTok was fined EUR 530 million and is required to bring its data processing into compliance with GDPR within six months.
Enforcement
ASIC Imposes Additional Licence Conditions on Macquarie
By Sanday Chongo Kabange | 07/05/2025
ASIC cited failures in Macquarie Bank’s futures dealing business and OTC derivatives trade reporting functions.
Enforcement
China NFRA Updates Rules on Administrative Penalties
By Editors | 07/05/2025
The rules have been expanded in scope to include financial holding companies and strengthen protections for parties subject to penalties.
Enforcement
Chinese Regulators Crack Down on Margin Lending Practices
By Editors | 06/05/2025
Several mainland securities firms have been penalised for allowing investors to withdraw cash obtained from margin loans.
AML / KYC
BNM Fines Two MSB Licensees for Sanctions Screening Gaps
By Editors | 04/05/2025
Merchantrade Asia and JAGS Money failed to update their sanctions databases promptly. Both have since taken remedial measures.
Enforcement
Land Bank of Taiwan Penalised for Embezzlement by Ex-Employee
By Editors | 04/05/2025
A janitor was collecting fees for water and electricity from tenants at Land Bank of Taiwan’s premises and then embezzled the funds for more than 7 years.
Enforcement
Korea FSS to Commence Inspections of Asset Managers in Mid-May
By Editors | 04/05/2025
The on-site inspections are expected to focus on the appropriateness of collateral assets, credit risk, fees for synthetic ETFs, and arrangements with liquidity providers.
Enforcement
NZ High Court Orders Westpac to Pay Penalty for Misleading Customers
By Sanday Chongo Kabange | 03/05/2025
Westpac was fined for failing to deliver contractually agreed discounts to over 20,000 customers, a breach of the FMCA’s fair dealing provisions.
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