Financial Crime

Anti-Money Laundering

India Undergoes National Risk Assessment on ML/TF Risks

By Editors | 07/11/2021

Central agencies including the RBI have been tasked with evaluating sectors that are vulnerable to ML/TF risks. India’s mutual evaluation is expected to take place around May 2022.

Market Abuse

FCA Bans Ex-Barclays Banker for Life Over EURIBOR Rigging

By Editors | 07/11/2021

The decision comes after the former banker lost an attempt to overturn his 2019 conviction and sentencing to five years in prison.

Supervision & Enforcement

APRA Finds Underperformance Among Choice Super Products

By Sanday Chongo Kabange | 04/11/2021

APRA plans to release its first Choice Product Heatmap in late 2021, following from its launch of the MySuper Product Heatmap in December 2019.

Tokenisation

HKMA Unveils New Measures to Achieve Fintech Vision

By Sanday Chongo Kabange | 04/11/2021

Prototype platforms for green bond tokenisation developed. Commercial Data Interchange enters pilot launch. AML Regtech Lab set for Friday launch.

Market Abuse

SMBC Nikko Securities Under Market Manipulation Probe – Report

By Ranamita Chakraborty | 04/11/2021

Employees are said to have traded several stocks to support their prices to ensure the completion of block deals conducted after market hours.

Conduct, Culture & Accountability

ASIC Finds Conflict Management Failures at Super Funds

By Ranamita Chakraborty | 03/11/2021

ASIC identified a “clear failure” to identify investment switching by directors and executives of superannuation trustees as a source of potential conflict.

Anti-Money Laundering

Japan to Require Companies to Disclose Major Shareholders

By Editors | 03/11/2021

Banks will be able to ask companies to submit information about their major shareholders when opening accounts or making loans.

Structural Regulation

China: Regulatory Crackdown on Internet Platforms Not Yet Complete

By Darien Choong | 02/11/2021

About half China’s major Internet platforms have implemented plans to restructure their financial businesses. More progress is expected by year-end.

Conduct, Culture & Accountability

SFC Fines Fulbright Securities Over Internal Control Failures

By Editors | 02/11/2021

Fulbright Securities breached regulatory requirements when processing placement subscription applications for a Hong Kong-listed company in August 2018.