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PEPs & Sanctions
US Court Lifts Investment Ban Against Luokung Technology Corp
By Editors | 10/05/2021
Separately, China Mobile, China Unicom and China Telecom have lost their appeals of a NYSE decision to delist their shares.
Fraud, Scams & Cybercrime
MAS Issues 10-Year Ban Against Individual for Dishonest Conduct
By Editors | 10/05/2021
The individual carried out fund management activities without holding a capital markets services licence, and later convicted of cheating and imprisoned.
Trading & Investment
Chinese Regulators Issues Draft Rules for Wealth Connect Scheme
By Manesh Samtani | 09/05/2021
A 150bn yuan ceiling is proposed as the trading quota for the new scheme, with a 1mn yuan individual limit. A launch date has not yet been set.
Fraud, Scams & Cybercrime
Korea: Police Raid Crypto Exchange, Freeze $214m in Assets
By Editors | 08/05/2021
Crypto exchange V Global is alleged to have engaged in an illegal multi-level marketing scheme to lure investors.
Fraud, Scams & Cybercrime
HKEX Proceeds to Delist Shares of Convoy Global Holdings
By Sanday Chongo Kabange | 06/05/2021
HKEX says its Listing Review Committee has upheld the May 2020 decision to cancel the listing of Convoy Global Holdings.
Credit Risk
CBIRC Optimises Supervision of Foreign Banks in China
By Editors | 06/05/2021
The move is expected to allow foreign banks to play a role in facilitating China’s financial market opening-up and channelling funds into the economy.
Market Abuse
ASIC Files Suit Against Westpac for Alleged Insider Trading
By Editors | 05/05/2021
ASIC says Westpac traded interest rate derivatives to pre-position itself while knowing it would be selected to execute a A$12bn interest rate swap hours later.
Anti-Money Laundering
US Lawmakers Call for ‘War-like Footing’ Against Corruption
By Editors | 05/05/2021
In a letter to Janet Yellen, two lawmakers have called for AML obligations to be expanded to hedge funds, private equity, and other professional enablers.
Anti-Money Laundering
AUSTRAC Orders Mutual Bank to Uplift AML Compliance
By Editors | 05/05/2021
Australian Military Bank is required to conduct a risk assessment, and then work to improve its KYC, transaction monitoring, EDD, and reporting systems.
Anti-Money Laundering
Taiwan FSC Fines Nan Shan Life Insurance Over Lax Controls
By Editors | 05/05/2021
The FSC found that 122 sales personnel paid premiums on behalf of clients with their own credit cards to earn rewards points offered by banks.
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