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Fraud, Scams & Cybercrime
Korea FSC Extends Optimus Suspension for Six More Months
By Sanday Chongo Kabange | 28/06/2021
A new fund management company is being set up to take over and manage funds previously operated by Optimus Asset Management.
Anti-Money Laundering
Australia: Senate Committee Calls for Submissions in AML Inquiry
By Editors | 27/06/2021
The inquiry will explore the adequacy and efficacy of Australia’s AML/CTF regime. The terms of reference have been published.
Fraud, Scams & Cybercrime
105 More Charges Laid Against Hin Leong Founder
By Editors | 27/06/2021
Lim Oon Kuin now faces a total of 130 charges, including 68 for cheating, 47 for abetment of forgery, and 14 for abetment for forgery for the purpose of cheating.
Conduct, Culture & Accountability
CBIRC Issues New Qualification Rules for Insurance Executives
By Editors | 27/06/2021
Insurers need to seek approval from the CBIRC on the qualifications of directors, supervisors and senior managers starting 1 July.
Supervision & Enforcement
ASIC Removes SocGen Securities Licence Conditions
By Ranamita Chakraborty | 27/06/2021
Independent expert did not identify any deficiencies in the adequacy and effectiveness of SocGen’s client money controls.
Anti-Money Laundering
FATF Plenary Packs Powerful Punch
By Manesh Samtani | 25/06/2021
The FATF finalised reports on technological innovation, environmental crime, and asset recovery. New guidance on PF risk and a white paper on beneficial ownership were also finalised.
Market Abuse
SFC Probes CLSA Over CEFC Energy Bond Deal
By Sanday Chongo Kabange | 25/06/2021
A former CLSA managing director has accused CLSA of “blatant” misbehaviour as bond underwriter for the now-defunct CEFC Energy.
Conduct, Culture & Accountability
SGX RegCo Set to Expand Enforcement Powers
By Manesh Samtani | 25/06/2021
From 1 August, SGX RegCo will be able to issue public reprimands, require issuers to comply with specified conditions, and demand director resignations.
Anti-Bribery & Corruption
China Bank Official Expelled from CCP Amid Corruption Probe
By Sanday Chongo Kabange | 24/06/2021
The ex-president of China Development Bank’s Chongqing branch has been expelled from the CCP and removed from all public posts amid a corruption probe.
Anti-Money Laundering
Australian Senate to Launch Inquiry into DNFBP Regulation
By Manesh Samtani | 24/06/2021
The inquiry will examine the impacts of bringing DNFBPs into scope under Australia’s AML/CTF regime, including AUSTRAC’s capacity to regulate 100,000 more entities.
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