Enforcement

CBA will engage an independent expert to assess changes to the banks' policies, procedures, systems, controls, training, guidance and framework for the monitoring and supervision of employees and trading in Prime Bank Bills.

ASIC has launched a civil action against AMP for misconduct in its financial planning arm causing the firm to put 300 of its financial planners on notice that their licences may be discontinued.

The Australian Tax Office will use cross border data sharing agreements to track tax obligations of cryptocurrency traders, though tax implications from major gains will likely be confined to a few individuals.

Proposed changes aim to provide greater clarity on requirements and reduce errors in the submission of misconduct reports; reference checks to be mandatory when recruiting staff.

SFC found that due to an incorrect system setting for client profiles, over 130 clients had accessed alternative liquidity pool Citi Match without being assessed whether they were qualified investors.

The 'J5' will three global tax enforcement initiatives: cybercrime and virtual currencies, enablers of offshore tax crime, and data platforms; new alliance includes Canada, US, UK, Netherlands.

SFC has fined CCB International Capital HK$24mn for failing to conduct reasonable due diligence for seafood company Fujion Dongya Aquatics in its 2014 listing.

India’s securities regulator has issued a notice to NSE for allegedly misuse of its co-location facility by some brokers seeking early access to the exchange’s algo-trading system.

The real cost of doing business in China was suddenly revealed with Credit Suisse’s settlements totalling $77 million with the SEC and DOJ over its alleged violations of the Foreign Corrupt Practices Act by employing Chinese princelings and princesses.