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Enforcement
MPFA Fines HSBC for Non-compliant Referral Programme
By Sanday Chongo Kabange | 09/07/2024
HSBC recruited and offered incentives to unregistered persons to refer corporate clients to the bank for MPF business.
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.
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