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Supervision & Enforcement
European Commission Proposes to Strengthen Supervisory Bodies
By Editors | 29/11/2021
In the aftermath of the Wirecard scandal, German regulator BaFin was accused of being beholden to banking industry lobbyists and the finance ministry.
Capital Adequacy
China Announces Raft of Regulatory Changes for Insurance Sector
By Darien Choong | 29/11/2021
Requirements on the perpetual bond issuance have been revised and credit rating requirements for bond investments have been eased.
Market Abuse
Hong Kong SFC Investigates Ramp-and-Dump Scam
By Editors | 29/11/2021
Restriction notices have been sent to two brokerage firms prohibiting them from dealing in assets worth HK$312mn held across 17 trading accounts.
Payments & Settlements
Japan FSA Orders Mizuho to Undergo Structural Reforms
By Editors | 29/11/2021
Mizuho is directed to formulate plans to improve its governance and prevent more system failures from occurring. Three top executives will resign.
PEPs & Sanctions
Australia Introduces Sanctions Reform Bill to Parliament
By Manesh Samtani | 28/11/2021
The bill allows targeted sanctions to be imposed to address themes such as gross human rights violations, malicious cyber activity and serious corruption.
Anti-Money Laundering
HK ICAC Charges Four for Concealing Backdoor Listing
By Editors | 28/11/2021
A retired lawmaker and his son concealed an agreement with a third party who agreed to pay them about HK$210mn for control of a listed stock.
Cryptocurrency
SEC Thailand Proposes Regulations to Ban Privacy Coins
By Editors | 28/11/2021
The proposed ban is aimed at preventing the misuse of digital assets as a tool to commit crime, the SEC said.
Fraud, Scams & Cybercrime
ASIC Sues ANZ Over Home Loan Introducer Programme
By Editors | 27/11/2021
ASIC says ANZ breached credit laws by accepting customer information and documents from unlicensed individuals, some of which was fraudulent.
Fraud, Scams & Cybercrime
China Cracks Down on Online ‘Influencers’ for Tax Evasion
By Darien Choong | 27/11/2021
Fines against two influencers comes as China cracks down the entertainment and livestreaming industries, including in the securities sector.
Cryptocurrency
FSC Korea Seeks to Criminalise Crypto Market Manipulation
By Editors | 26/11/2021
Those who obtain unfair profits from crypto trading would face at least one year in prison and at least three times the amount gained in fines.
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