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Fraud, Scams & Cybercrime
Chinese Financial Regulators Vow Crackdown on Fraud
By Editors | 14/07/2020
The FSDC set out measures to speed up investigations and criminal prosecutions, increase penalties and civil compensation, and improve stock market delisting mechanisms.
Anti-Bribery & Corruption
Sustainable Supply Chains and the Role Banks Play
By Editors | 14/07/2020
Incoming rules from the EU, UK, Singapore and Hong Kong highlight the need for banks to gain a better understanding of the third party and supply chain risks their customers face.
PEPs & Sanctions
China Imposes Retaliatory Sanctions Against US Officials
By Editors | 13/07/2020
The US President said that a phase two trade deal with China isn’t under consideration, though China has continued to meet its commitments under the phase one deal signed in January.
Fraud, Scams & Cybercrime
CSRC Imposes Underwriting Restrictions on GF Securities
By Editors | 13/07/2020
14 GF Securities officers have also been barred from investment banking. The enforcement action is related to a $12.6bn fraud at drugmaker Kangmei Pharmaceutical.
PEPs & Sanctions
US Sanctions Chinese Officials Over Uyghur Human Rights
By Editors | 12/07/2020
US persons and financial institutions are prohibited from conducting financial transactions with any of the four designated individuals.
Fraud, Scams & Cybercrime
Taiwan FSC Fines Chang Hwa Bank Over Client Theft
By Editors | 11/07/2020
A Chang Hwa Bank consultant was found to have used over $2mn of client money to make up losses for other clients over a ten year period.
Emerging Prudential Risks
Japan FSA Pushes for Sustainability in Bank Business Models
By Editors | 10/07/2020
Management changes may be needed at regional banks that lack sustainability in their business models, says the FSA’s Toshihide Endo.
Market Abuse
CSRC to Punish 258 Firms Illegally Financing Margin Trading
By Editors | 09/07/2020
The CSRC warns that illegal lenders are offering margin loans via websites, mobile apps and social media, promising investors 10 times leverage and high profits.
PEPs & Sanctions
Chinese Banks Plan for Possible US Sanctions – Report
By Editors | 09/07/2020
Bank of China and ICBC are reportedly preparing for worst-case possibilities that they could be cut off from US dollars or lose access to US dollar settlements.
Emerging Prudential Risks
FSB, BCBS Suggest Supervisory Action for Slow LIBOR Work
By Manesh Samtani | 09/07/2020
The available supervisory tools to accelerate transition at banks could include ad-hoc regulatory capital add-ons, administrative sanctions or other legal actions.
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