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Market Abuse
US Authorities Settle JP Morgan Spoofing Charges for $920m
By Editors | 01/10/2020
The settlement will fully resolve investigations carried out by the DOJ, CFTC and SEC into trades made over nearly ten years.
Payments & Settlements
MAS Orders Wirecard Entities to Cease Singapore Payment Services
By Editors | 30/09/2020
Wirecard has informed MAS that it is unable to continue providing payment processing services to a significant number of merchants.
Fraud, Scams & Cybercrime
Korean Prosecutors Raid KEB Hana Bank over Optimus Fund Mis-selling
By Editors | 30/09/2020
Prosecutors are looking to determine whether the bank purchased privately placed bonds under Optimus’ request or instruction.
Cryptocurrency
BSP Set to Issue Revised Rules on Virtual Assets
By Sanday Chongo Kabange | 30/09/2020
The revisions are aimed at addressing identified gaps and aligning the framework with FATF guidance for regulating VASPs.
Anti-Money Laundering
HKMA to Enhance AML/CFT Supervision Through Data & Tech
By Manesh Samtani | 29/09/2020
The HKMA intends to increase its engagement and data collection, make better use of data, and utilise suptech tools to enhance its AML/CFT supervision.
Market Abuse
Two Ex-Deutsche Traders Convicted in Spoofing Case
By Sanday Chongo Kabange | 29/09/2020
The two former traders were found guilty of fraud charges for their respective roles in manipulating gold and silver futures prices.
Anti-Money Laundering
US Law Firms Look to Capitalise from FinCEN Files
By Editors | 29/09/2020
US law firms are inviting investors to participate in class actions if they lost money in HSBC and StanChart stock following the release of the FinCEN Files.
Fraud, Scams & Cybercrime
Seoul Court Sentences Ex-Shinhan Exec to Eight Years’ Jail
By Sanday Chongo Kabange | 29/09/2020
The former executive was convicted for accepting bribes, deceiving investors, concealing losses in Lime Asset Management fund products.
Supervision & Enforcement
SFC Fines China Everbright Over Expired Standing Authority
By Editors | 29/09/2020
The standing authority used to pledge client securities to obtain credit lines from banks was not renewed due to a miscommunication between compliance teams.
KYC & CDD
GLEIF Defines New Framework to Simplify, Accelerate LEI Issuance
By Manesh Samtani | 29/09/2020
Many of the labor intensive and time-consuming procedures performed to obtain an LEI are the same as those performed by the FI during onboarding.
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