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Market Abuse
Malaysia SC Charges Serba Dinamik Execs for False Disclosure
By Ranamita Chakraborty | 06/01/2022
Four executives of oil and gas engineering company Serba Dinamik have been charged for submitting a false statement to Bursa Malaysia.
KYC & CDD
CBIRC Directs Banks to Ease Account Opening for Small Businesses
By Darien Choong | 05/01/2022
Banks may not refuse to open accounts for small and micro enterprises on the grounds that they have few staff or insufficient bank deposits.
Anti-Money Laundering
BSP Directs Banks to Help Curb Vote-Buying Ahead of National Election
By Editors | 05/01/2022
Banks should “at a minimum” consider four scenarios when calibrating their fraud management systems and account and transaction monitoring rules/parameters.
Supervision & Enforcement
Singapore Police, MAS Launch Probe into Unlicensed Trading Platform
By Editors | 05/01/2022
Three arrests have been made amid suspicions that “irregular trading activities have been carried out on the platform”.
KYC & CDD
PBOC, SAFE Call on Banks to Facilitate Offshore Trade
By Editors | 05/01/2022
A new notice encouraging banks to support the development of new models of international trade comes just as RCEP took effect on 1 January 2022.
Market Abuse
BaFin Fines Deutsche Bank for Over EURIBOR Control Lapses
By Editors | 04/01/2022
BaFin found flaws in the processes used by Deutsche Bank to calculate EURIBOR between April 2019 and April 2020.
Conduct, Culture & Accountability
BNM Finalises Guidance for Wholesale Financial Market Conduct
By Mark Johnston | 04/01/2022
Market conduct risk assessments should be done at least annually, to serve as a systematic method for assessing susceptibility to misconduct and documenting mitigating actions or controls.
PEPs & Sanctions
US Sanctions Five Chinese Officials, China Reciprocates
By Editors | 04/01/2022
Five already-sanctioned Chinese officials were named in the US State Department’s latest Hong Kong Autonomy Act Report submitted to Congress.
Fraud, Scams & Cybercrime
Philippine DOJ Signs MoU with BAP on Cybercrime Prevention
By Mark Johnston | 03/01/2022
The MoU aims to formalise the establishment of a collective, coordinated, and strategic cyber response within the banking industry.
Anti-Money Laundering
Taiwan FSC Fines Three Banks Over Client Fund Embezzlement
By Editors | 03/01/2022
CTBC Bank was fined TWD 14 million, Bank SinoPac was fined TWD 4 million, and Bank of Panhsin was fined TWD 2 million.
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