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Anti-Bribery & Corruption
China Details Penalties for Bond Underwriting Kickbacks
By Garima Chitkara | 21/09/2018
The CSRC will ban or impose penalties on firms engaging that help companies with low creditworthiness issue debt in exchange for under-the-table payments.
Market Abuse
OSE, TSE Discipline MUFG Brokerage Unit for JGB Futures Manipulation
By Editors | 21/09/2018
Latest disciplinary action follows a FSA fine earlier this year, after a dealer manipulated the JGB futures market using the firm’s proprietary trading account.
Trading & Investment
India Allows Foreign Investment In Commodity Derivatives
By Garima Chitkara | 20/09/2018
Foreign investors with direct exposure to commodities can trade commodity derivatives in India. BSE and NSE to start offering commodity derivatives from 1 October.
Market Abuse
SFC Fines Huatai Financial for Naked Short Selling
By Editors | 19/09/2018
Huatai Financial’s unintentional short sale of Great Wall Motor bonus shares in 2015 was as a result of inadequate systems and internal controls.
KYC & CDD
Global Regulation Continues to Increase KYC Complexity – Accuity
By Editors | 18/09/2018
The KYC process has become increasingly complex, with rising costs, onerous processes and a skills shortage presenting challenges for compliance staff, says an Accuity report.
Market Abuse
ASIC Pursues Civil Penalty for ANZ Disclosure Breach
By Manesh Samtani | 17/09/2018
ANZ failed to disclose in its 2015 capital raising that underwriters Citi and Deutsche took up one-third of its share placement.
Fraud, Scams & Cybercrime
Two ICBC Branches Under Investigation for Illegal Fundraising
By Manesh Samtani | 13/09/2018
The branches sold unregistered investment products to other banks to channel funds into companies beyond what regulatory lending caps allowed.
Credit Risk
CBIRC Fines Reach Unprecedented Levels in Financial Deleveraging Campaign
By Garima Chitkara | 12/09/2018
The regulator has levied fines of over 4 billion yuan in the past 20 months, four times the 1 billion yuan in fines it levied in the previous 14 years.
AI Risk & Governance
South Korea Mulls Machine-Readable Regulation
By Garima Chitkara | 12/09/2018
FSS governor told fintech firms the regulator is considering machine readable regulation and automated data analysis systems to better detect and investigate financial crimes.
KYC & CDD
Hong Kong FIs Share Foreign Tax Resident Data with IRD – Report
By Editors | 12/09/2018
Over 1,700 financial institutions have shared customer account balances and income details with the tax authority, as required by AEOI.
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