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Market Abuse
CSRC Launches Probe into Allegations of Market Manipulation
By Editors | 17/05/2021
A fund manager has claimed that at least 18 stocks are being manipulated by the listed companies, private equity funds and publicly offered funds.
KYC & CDD
RBI Relaxes Restrictions on the Use of Video-based KYC
By Editors | 17/05/2021
Video-based KYC can be used for onboarding individual customers, business owners, and authorised signatories and beneficial owners of legal entities.
Anti-Bribery & Corruption
China: Former Trust Company Chair Jailed for Corruption
By Editors | 17/05/2021
Gao Fubo is the third chairman of state-owned Jilin Trust to be convicted on corruption and bribery charges. A fourth is awaiting trial.
Cryptocurrency
RBI Asks Banks to Cut Ties With Cryptocurrency Exchanges
By Sanday Chongo Kabange | 17/05/2021
The unofficial guidance comes as Indian lawmakers look to introduce a ban on cryptocurrencies and penalise anyone dealing in them.
Anti-Bribery & Corruption
China: Ex-Banking Regulator Admits to Taking Bribes
By Sanday Chongo Kabange | 17/05/2021
The former head of the CBRC’s Inner Mongolia branch is linked to Baoshang Bank, a local lender that was taken over by the state in 2019.
Supervision & Enforcement
US DOJ Repatriates $460m of Seized 1MDB Funds to Malaysia
By Editors | 16/05/2021
Seized and repatriated 1MDB funds are being utilised to repay and service 1MDB and SRC’s debts, which remain above $10.2billion.
Conduct, Culture & Accountability
MAS to Expand Scope of Mandatory Reference Check Regime
By Manesh Samtani | 16/05/2021
MAS proposes to expand the scope of FIs and employees subject to the mandatory reference checking regime. FIs will have to maintain records for all employees.
Anti-Money Laundering
US DOJ Penalises Swiss Life for Facilitating Tax Evasion
By Editors | 16/05/2021
Swiss Life and its subsdiaries created and marketed insurance products specially designed for US persons seeking to hide offshore assets and evade tax.
Conduct, Culture & Accountability
CBIRC Issues Warning Against Improper Sales Practices
By Editors | 16/05/2021
In a notice, the CBIRC points to regulatory violations by Ping An Bank in its credit card sales practices which violated the rights and interests of consumers.
Cryptocurrency
BOK Seeks Authority to Monitor Crypto Transactions – Report
By Sanday Chongo Kabange | 15/05/2021
The BOK plans to use existing authorities to monitor crypto transactions, amid fears that risks in the sector could flow to the broader financial system.
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