ENFORCEMENT

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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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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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