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Fraud, Scams & Cybercrime
Korea FSS Seeks Stronger Audit Regulations to Prevent Fraud
By Sanday Chongo Kabange | 31/03/2022
The FSS will examine 180 companies and 17 audit firms this year, while also enhancing its audit screening exercises and strengthening punitive sanctions.
Fraud, Scams & Cybercrime
CSRC Revokes Licences of Two Investment Consulting Firms
By Editors | 31/03/2022
The two well-established securities investment consulting firms were found to have disseminated false or misleading information to investors.
PEPs & Sanctions
Japan to Tighten Russia Sanctions, G7 Rejects Ruble Option
By Manesh Samtani | 30/03/2022
Japan to impose new requirements on crypto exchanges. G7 rejects Russian demand for gas payments in rubles. US to help EU reduce dependence on Russian energy.
PEPs & Sanctions
US Lawmakers Probe Credit Suisse Russia Business
By Editors | 30/03/2022
The lawmakers are concerned that Credit Suisse may be concealing information about sanctions evasion by Russian oligarchs.
Emerging Prudential Risks
PBOC Releases Latest Bank Assessment Results
By Darien Choong | 30/03/2022
The number of “red zone” institutions has declined for six straight quarters. No foreign-invested or private banks were identified as high-risk institutions.
Market Abuse
TWSE Probes Foreign Securities Firms Over Research Reports
By Darien Choong | 29/03/2022
There have been rumours that foreign securities firms have been selling off stocks before they achieve the target prices specified in published research reports.
KYC & CDD
Wolfsberg Group Issues Guidance on Managing Customer Risk
By Manesh Samtani | 29/03/2022
FIs should consider building “more holistic” customer profiles, using additional identity attributes and ensuring they are alerted to changes in data points.
Conduct, Culture & Accountability
SFC Bans BNP Representative for Unauthorised Discretionary Trading
By Editors | 29/03/2022
The relationship manager asked clients to pre-sign blank instruction forms so he could place trades for their accounts without having to inform them in advance.
Anti-Money Laundering
Singapore Jails Nominee Director for Facilitating Illicit Activities
By Editors | 29/03/2022
The director of corporate service provider 3E Accounting served as local resident director of four companies whose bank accounts were used to receive criminal proceeds.
Structural Regulation
Thailand SEC Unveils 2022-2024 Strategic Plan
By Editors | 29/03/2022
The SEC will seek to enhance competitiveness, ensure inclusiveness, and strengthen trust and confidence in the capital market.
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