ENFORCEMENT

AML / KYC

HKMA Fines DBS for Historical AML Deficiencies

By Sanday Chongo Kabange | 08/07/2024

HKMA investigation found deficiencies in the bank’s systems and controls for compliance with the AMLO.

AML / KYC

Nordea Charged for Laundering $3.8b for Russian Clients

By Editors | 08/07/2024

Danish authorities said Nordea did not adequately investigate transactions by Russian clients and ignored other warnings.

Enforcement

China Probes Former Top Official of Banking Association

By Editors | 05/07/2024

New probes against two former officials of Agricultural Bank of China. Former CITIC official referred for criminal prosecution.

Enforcement

Hong Kong Hedge Fund Manager To Disgorge False Trading Profit

By Sanday Chongo Kabange | 05/07/2024

The MMT has ordered a hedge fund manager to disgorge HK$ 5.6 million illicit profit and disqualified him for four years.

Enforcement

FMA Censures DeVere for FAP Licence Breaches

By Sanday Chongo Kabange | 05/07/2024

The FMA censured deVere for failing to ensure its clients understood the financial advice offered to them.

Enforcement

Singapore Jails Former Fund Manager for Deceptive Conduct

By Editors | 04/07/2024

Sun Weiyeh is the first to be convicted under the SFA for fraudulent or deceptive conduct relating to OTC bond trading.

Enforcement

US Court Rejects Visa, Mastercard Antitrust Settlement

By Manesh Samtani | 04/07/2024

The court said Visa and Mastercard could withstand a “substantially greater judgment” than the $30bn settlement proposed in March.

Enforcement

MAS Fines GSG Capital Director for Insider Trading

By Editors | 04/07/2024

The sole shareholder and director of GSG Capital bought shares in SGX-listed GS Holdings while in possession of material non-public information.

Enforcement

Korea Imposes Largest Ever Short-Selling Fine on Credit Suisse

By Sanday Chongo Kabange | 04/07/2024

The SFC has imposed a $19.5 million combined fine on Credit Suisse and its Singapore affiliate for naked short sale activities.