Financial Crime

    PEPs & Sanctions

    China to Bolster Legal Defences Against Foreign Sanctions

    By Editors | 09/03/2021

    China plans to accelerate legislation designed to guard against foreign sanctions, interference and long-arm jurisdiction, a top lawmaker has said.

    Conduct, Culture & Accountability

    BSP Advocates Passage of New Consumer Protection Law

    By Ranamita Chakraborty | 09/03/2021

    The proposed law will allow financial regulators to issue consumer protection rules, conduct market surveillance and examination, and adjudicate complaints.

    Trading & Investment

    SEBI Updates Rules on UCC, PAN Use in Commodity Derivatives

    By Sanday Chongo Kabange | 09/03/2021

    Execution of commodity derivatives trades will be prohibited without an upload of clients’ UCC details, which should be accompanied by the PAN or e-PAN.

    Conduct, Culture & Accountability

    FSS Chief Faces Resignation Calls over Personnel Management

    By Ranamita Chakraborty | 09/03/2021

    Yoon Suk-heun, whose three-year term ends in two months, allegedly promoted certain officials who had been punished for hiring irregularities.

    Conduct, Culture & Accountability

    Australian Court Penalises Dover Financial Advisers for Misconduct

    By Editors | 09/03/2021

    The penalty is part of the fallout from a 2019 federal court judgment that Dover Financial Advisers engaged in “false, misleading or deceptive conduct”.

    Anti-Money Laundering

    KoFIU’s New AML System Showing ‘Significant Improvements

    By Editors | 08/03/2021

    The new STR filing system and the screening and analysis process have been made more efficient, while guaranteeing better system security and stability.

    Market Abuse

    John McAfee Indicted for Crypto-related Fraud, Money Laundering

    By Sanday Chongo Kabange | 08/03/2021

    McAfee and his associate allegedly used their large Twitter following to promote altcoins and ICOs to investors through a so-called pump-and-dump scheme.

    Market Abuse

    SEBI Directs MIIs to Establish Controls to Prevent Market Abuse

    By Editors | 08/03/2021

    Stock exchanges, clearing corporations and depositories are asked to establish a code of conduct and institutional mechanism to prevent fraud and market abuse.

    Market Abuse

    HK Police Arrest 12 Members of Ramp-And-Dump Syndicate

    By Editors | 08/03/2021

    The SFC has frozen securities accounts holding an estimated HK$860mn in ramp-and-dump proceeds, while the Police have seized an additional HK$89mn.

    Anti-Money Laundering

    FATF Publishes Guidance on Risk-based AML/CFT Supervision

    By Editors | 08/03/2021

    The guidance includes practical advice to address common challenges in risk-based supervision, including examples of strategies for supervising DNFBPs and VASPs.

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