Financial Crime

Anti-Bribery & Corruption

Former CSRC Vice Chairman Jailed for 18 Years

By Editors | 01/10/2018

Yao Gang was sentenced for taking 70 million yuan in bribes from 2006 to 2015 and for pocketing 2.1 million yuan in insider trading gains.

Supervision & Enforcement

AUSTRAC Strengthens Cooperation with FinCEN

By Garima Chitkara | 28/09/2018

Agencies in both countries will share information on terrorist financing and serious financial crime under a regulatory MoU.

AI Risk & Governance

HKMA Outlines Regtech Initiatives – Speech

By Manesh Samtani | 28/09/2018

The HKMA is looking to build a more diversified regtech ecosystem in Hong Kong and urges for greater collaboration between the banking industry and technology community.

KYC & CDD

SEBI Relaxes KYC Norms for Indian Beneficial Owners of FPIs

By Editors | 26/09/2018

The latest circular allows Indians living overseas to hold only a non-controlling stake in an FPI entity, but permits them to fully control the investment manager in charge of its assets.

Supervision & Enforcement

ASIC Report Reveals ‘Unacceptable Delays’ by FIs in Handling Breaches

By Manesh Samtani | 26/09/2018

Institutions take over 4 years to identify breaches, over 2 months to start an investigation into identified breaches, and 2.5 months to lodge breach reports with ASIC.

Market Abuse

CFTC Imposes Fine on Mizuho Bank in Spoofing Case

By Editors | 25/09/2018

A trader placed multiple large orders on CME and CBOT futures contracts from Mizuho’s Singapore office with no intention of executing them.

Anti-Bribery & Corruption

Former Indonesian Bank Bailout Chief Jailed in Corruption Case

By Editors | 25/09/2018

The former head of an agency credited with leading Indonesia out of the 1998 financial crisis reportedly caused state losses of over $300mn.

Supervision & Enforcement

MAS Publishes Monograph Detailing Enforcement Approach

By Manesh Samtani | 25/09/2018

Monograph outlines how MAS manages enforcement work in three areas: detection, investigations and in taking enforcement action.

Fraud, Scams & Cybercrime

Japan FSA Probes $60mn Hack at Crypto Exchange

By Manesh Samtani | 24/09/2018

About two-thirds of the stolen cryptocurrency belonged to customers of the exchange platform Zaif, which will receive a cash infusion from Fisco Digital Asset Group to help repay them.