ADVERTISEMENT
Fraud, Scams & Cybercrime
Korea FSS Identifies More Fraud, Bribery at Private Equity Firms
By Editors | 04/01/2021
The FSS said it will impose sanctions on companies identified as being engaged in such practices, including to refer cases for criminal prosecution as needed.
PEPs & Sanctions
OFAC Extends Chinese Military Company Ban to Subsidiaries
By Editors | 03/01/2021
In a set of FAQs, OFAC has clarified that Executive Order 13959 also applies to subsidiaries, derivatives, ETFs, index funds and mutual funds.
Anti-Money Laundering
Japan Regulators Order Crypto Exchange to Improve AML Systems
By Editors | 02/01/2021
Avacus Co Ltd must build an AML/CTF risk management system that ensures transactions are confirmed and recorded at the time of transaction.
Market Abuse
China: Revised Criminal Law Raises Penalties for Capital Market Offences
By Editors | 02/01/2021
The amendments focus on fraudulent issuance, information disclosure falsification, provision of false certification documents by intermediaries, and market manipulation.
Cloud & Infrastructure
Hong Kong Launches New Digital Identity Platform ‘iAM Smart’
By Manesh Samtani | 02/01/2021
The SFC, HKMA, IA and MPFA are encouraging FIs to adopt iAM Smart in their businesses for customer authentication, document signing, and remote onboarding.
Anti-Money Laundering
PBOC Revises AML Rules to Enhance Supervisory Scope
By Editors | 02/01/2021
With continuous innovation in the financial sector and the emergence of new types of financial businesses, it is necessary to improve the scope of AML supervision, the PBOC says.
Fraud, Scams & Cybercrime
Cathay United Bank Penalised Over Misappropriated Client Funds
By Editors | 02/01/2021
Cathay United failed to set up internal controls to prevent the theft of TWD 17.32 million from four clients by a customer relationship manager.
Conduct, Culture & Accountability
Taiwan FSC Fines KGI Securities Over Poor Internal Controls
By Editors | 31/12/2020
The case relates to the August suicide of a former KGI Securities employee, who suffered large investment losses as a result of illegal futures trades for his clients.
Anti-Money Laundering
Federal Reserve Orders Credit Suisse to Enhance AML Controls
By Editors | 31/12/2020
Credit Suisse is required to improve its risk assessment, customer due diligence, suspicious activity monitoring and reporting processes.
Conduct, Culture & Accountability
IOSCO Issues Guidance on Addressing Misconduct During Stress Events
By Editors | 31/12/2020
Extreme price volatility, profitability pressures, psychological stressors, remote working and aggressive advertising were some of the drivers of misconduct risk during the pandemic.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.