Regulatory breaches include failures related to segregation of client securities, reporting of transaction, noncompliance with short selling requirements, unsuitability of investment products sold to clients.
New ombudsman scheme will initially cover deposit-taking nonbank financial companies; rules to be laid out this month.
Probe could include some 70 savings banks, insurers, credit card providers and investment companies.
New law intended to restore trust in scandal-hit sector; executives to be held directly accountable and can be potentially banned from the industry on non-compliance.
ANZ to refund AUD10.2mn for improper fee disclosures; Westpac completes AUD11.3mn remediation following review of credit card limit increases.
FSS says banks kept list of officials and former officials whose family members should be favoured in recruitment processes.
Official Communist Party newspaper says regulators should be barred from taking jobs at firms they have supervised in the past.
Bank reported financial adviser to regulator and dismissed them after uncovering misconduct involving more than $3mn.
All 32 cryptocurrency exchanges in Japan required to submit reports on security and risk management based on 43-item checklist.
CBRC cracked down on banks that provided loans against low-purity gold; the regulator expressed concerns on banks’ lending and collateral management norms.