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Anti-Money Laundering
CBIRC Reiterates Warning Against Loan Misuse in Property Market
By Sanday Chongo Kabange | 10/04/2021
In Shanghai, 339 million yuan in business and consumer loans has been misused to pay for down payments for homes.
Fraud, Scams & Cybercrime
Malaysian Court Orders Restitution for 2009 Investment Scheme
By Editors | 10/04/2021
The Securities Commission had filed a civil suit against RBTR Asset Management and five others in 2009 for misleading investors.
Anti-Money Laundering
FATF President Calls for Rethink of Regulatory Culture
By Manesh Samtani | 09/04/2021
Dr Marcus Pleyer says supervisors and compliance officers in banks and companies mostly still take a basic tick-box approach.
Anti-Money Laundering
Sydney Court Jails Man for Cryptocurrency Money Laundering
By Sanday Chongo Kabange | 08/04/2021
The man used other people’s identities to set up accounts with a cryptocurrency provider, which he used to withdraw stolen bitcoin.
Supervision & Enforcement
Indian Court Lifts Freeze Order on ByteDance Bank Accounts
By Ranamita Chakraborty | 08/04/2021
ByteDance is required to deposit around $10.6mn in a state-run bank, the amount tax authorities claim the company owes.
Conduct, Culture & Accountability
NH Investment Asked to Fully Compensate Optimus Investors
By Editors | 08/04/2021
An FSS arbitration panel has advised NH Investment to pay full compensation to two investors for failing to properly explain the risks of Optimus funds.
Market Abuse
US Court Dismisses Collusion Case Against 10 Global Banks
By Sanday Chongo Kabange | 08/04/2021
The judge dismissed a case against 10 banks alleging manipulation of the US Treasuries market due to a lack of evidence of a conspiracy.
Anti-Bribery & Corruption
Ex-Shanghai Clearing House Chief Charged With Corruption
By Sanday Chongo Kabange | 08/04/2021
Xu Zhen was charged with corruption and bribery for violating rules on executive pay to benefit himself and those close to him.
Anti-Money Laundering
Philippines Expands AML Rules to Financing, Lending Firms
By Ranamita Chakraborty | 08/04/2021
All financing and lending companies are required to register with the AMLC, report suspicious transactions and comply with other AML/CTF rules.
Anti-Money Laundering
FinCEN Consults on Beneficial Ownership Reporting Requirement
By Editors | 08/04/2021
FinCEN is asking for written comments on the implementation of the beneficial ownership information reporting of the Corporate Transparency Act.
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