Financial Crime

Fraud, Scams & Cybercrime

RBI Under Fire for Failure to Detect $1.8bn Loan Fraud

By Manesh Samtani | 21/02/2018

Central bank audits failed to detect loan fraud using Punjab National Bank guarantees for over seven years; overseas branches which granted loans also under scrutiny.

Market Abuse

Australian Sell-side Research Rules Threaten IPO Bonanza

By Bradley Maclean | 19/02/2018

Guidance on sell-side research could disappoint investment bankers who expected a strong year for new listings.

Anti-Money Laundering

Border Cash Declarations Won’t Halt HK Money Laundering

By Peter Guy | 19/02/2018

For the first time, visitors to Hong Kong will soon have to declare cash they bring in. But money laundering will continue to flourish.

Conduct, Culture & Accountability

Malaysian Banks to ‘Rigorously Screen’ New Employees

By Garima Chitkara | 19/02/2018

Bank Negara Malaysia wants to build a “competent” talent pool to enforce confidence and integrity in the financial system.

Structural Regulation

SEC Blocks China-linked Acquisition of Chicago Exchange

By Editors | 17/02/2018

US regulator says deal didn’t comply with rules governing stock exchange ownership, lacked transparency on source of funds and relationships among investors.

Conduct, Culture & Accountability

CBRC Targets Banker Misconduct

By Samuel Riding | 15/02/2018

CBRC proposals would require banks to set up conduct management departments, submit conduct codes to regulator, establish whistle blower mechanism.

Market Abuse

Interactive Brokers HK Fined for Trading System Failures

By Editors | 15/02/2018

The firm’s electronic trading system repeatedly submitted orders without regard for market liquidity and without effective price and volume controls.

Credit Risk

PBOC Asks Banks to Rein in Pre-CNY Lending

By Editors | 14/02/2018

New loans for January totaled CNY2.9 trillion, exceeding estimates and the previous record.

Cryptocurrency

Thailand Banks Banned from Cryptocurrency Activities

By Manesh Samtani | 14/02/2018

Banks prohibited from trading, advising on, and creating platforms for cryptocurrency.