Financial Crime

Anti-Money Laundering

FATF Consults on Securities Sector AML/CFT Guidance

By Manesh Samtani | 11/07/2018

Guidance aimed at assisting to countries, competent authorities, providers of securities products and services, and intermediaries in risk-based design and implementation of applicable AML/CFT measures.

Anti-Money Laundering

Australia Joins New International Tax Enforcement Alliance

By Manesh Samtani | 11/07/2018

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.

Conduct, Culture & Accountability

CCB Hong Kong Unit Fined for IPO Sponsor Failures

By Manesh Samtani | 10/07/2018

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.

Market Abuse

UPDATED – Samsung Securities Fined 144 Million Won For Dividend Error

By Garima Chitkara | 09/07/2018

South Korea’s FSC fined the company for an April ‘fat finger’ error, which led to the firm issuing 2.8 billion […]

Market Abuse

India’s NSE Accused Of Fraud In Algo-Trading Case

By Garima Chitkara | 09/07/2018

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.

Anti-Bribery & Corruption

The Risky Business of Hiring Chinese Investment Bankers

By Peter Guy | 09/07/2018

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.

Operational Risk

Japan FSA Issues Revised Report on Supervisory Overhaul

By Manesh Samtani | 08/07/2018

Report was revised following consultation on proposed move to ‘dynamic supervision’ model; FSA says existing supervisory approaches deter focus from priority issues and may not prevent next crisis.

Supervision & Enforcement

MAS Reprimands Asset Manager for Late Regulatory Submissions

By Manesh Samtani | 08/07/2018

Annual declarations, auditor reports and director change notifications were submitted up to three years late by Taiyo Asset Management; director found guilty of misconduct for failure to implement compliance controls.

Anti-Bribery & Corruption

UPDATED – Former CSRC Vice Chairman Pleads Guilty to Bribery, Insider Trading

By Emma Zhou | 06/07/2018

Yao Gang charged with taking advantage of his position, accepting money and gifts, and insider trading; two other CSRC officials also charged