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Anti-Bribery & Corruption
Deutsche Bank to Pay $130m to Resolve FCPA Violations, Fraud Charges
By Editors | 11/01/2021
The bank’s employees and agents concealed bribes paid to obtain and maintain lucrative business in Saudi Arabia, Abu Dhabi, Italy and China.
Market Abuse
FSS Korea to Probe Samsung Securities for Regulatory Violations
By Editors | 11/01/2021
The FSS will look into whether loans granted to executives violated the capital market law and whether the firm influenced a merger involving one of its subsidiaries.
PEPs & Sanctions
China Issues New Rules to Protect from Foreign Sanctions
By Manesh Samtani | 11/01/2021
Global businesses that comply with sanctions deemed illegal by MOFCOM can be sued for compensation in Chinese courts.
PEPs & Sanctions
US Banks to Delist Hong Kong Listed Structured Products
By Manesh Samtani | 11/01/2021
The move is said to be a direct result of a prohibition on US persons from purchasing shares in companies identified to be linked to the Chinese military.
Supervision & Enforcement
CBIRC Penalises State-owned Financial Institutions and Subsidiaries
By Editors | 11/01/2021
ICBC, China Development Bank, Great Wall, and Postal Savings Bank and a number of their subsidiaries were penalised almost 200mn yuan for various regulatory violations.
Credit Risk
Myanmar Launches First Credit Bureau Following Soft Launch
By Editors | 08/01/2021
The bureau is a joint venture between MB Investment, a company formed by Myanmar banks, and a subsidiary of Singapore-listed Credit Bureau Asia.
Anti-Money Laundering
HK Customs Flags Money Laundering Risk from Money Changers
By Editors | 08/01/2021
Amid the pandemic, some criminal actors have turned to licensed money changers, who were more easily lured into criminal activities as their businesses suffer.
Supervision & Enforcement
Taiwan Raises Whistleblower Rewards for Serious Crime Tenfold
By Editors | 07/01/2021
Whistleblower rewards are increased tenfold for the reporting of serious illegal financial activities and fivefold for minor illegal financial activities.
KYC & CDD
PBOC Penalises Tenpay, Three Others for Violations – Report
By Editors | 07/01/2021
Tencent’s payment platform Tenpay was fined for providing payment services for illegal and false transactions, and processing QR code payments without a licence.
Fraud, Scams & Cybercrime
Chinese Court Orders Ratings Firm to Compensate Bond Creditors
By Editors | 07/01/2021
The court held Dagong Global Credit Rating, its controller, underwriter, accounting firm, and law firm jointly responsible for defaults by a construction company three years ago.
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