Financial Crime

Market Abuse

Hong Kong Finance Manager Convicted of Insider Dealing

By Editors | 21/02/2019

A GEM stock finance manager was in possession of inside information related to unaudited losses and an impending share suspension when he and his father sold their shares in the company.

Fraud, Scams & Cybercrime

China Freezes $1.5bn in Assets, Arrests 62 in P2P Purge

By Editors | 20/02/2019

Since last June, a crackdown on peer-to-peer lenders by China’s Ministry of Public Security, codenamed ‘Fox Hunt’, has yielded $1.5bn in seized assets and 62 arrests.

Anti-Money Laundering

AML Beyond Banking: The Increasing Scope of Global AML Regulation

By Claus Christensen | 20/02/2019

Increased transparency in the banking sector has made other avenues for money laundering gain greater prominence, writes Claus Christensen at Know Your Customer Ltd.

Supervision & Enforcement

ASIC Issues Update on Implementation of Hayne Recommendations

By Editors | 20/02/2019

ASIC is considering over 40 enforcement cases, a number of which involve misconduct by large financial institutions, their employees or subsidiary companies.

Anti-Bribery & Corruption

Former Bangladesh Bank Official Jailed for Graft

By Manesh Samtani | 19/02/2019

A former Bangladesh Bank assistant director was fined and sentenced to 10 years in jail for misappropriating $61,700 more than 20 years ago.

Credit Risk

CBIRC Drafts New Rules for Local Government AMCs – Report

By Editors | 19/02/2019

Many local government-run AMCs have not been focused on dealing with bad loans as intended due to a lack of clarity on their business scope.

Anti-Money Laundering

SFC Fines Guosen Securities $1.94mn for AML Breaches

By Editors | 19/02/2019

The Hong Kong unit of Guosen Securities failed to make enquiries into or report thousands of suspicious third party deposits.

Supervision & Enforcement

Philippines Expands Central Bank Supervisory Powers

By Editors | 18/02/2019

Amendments to the BSP’s charter will boost its capitalisation and extend its supervisory remit to all financial institutions in the country.

Data Privacy

IOSCO Members, ESMA Can Exchange Information Post-GDPR

By Editors | 15/02/2019

A decision by the European Data Protection Board will enable the continued sharing of information between ESMA and securities regulators outside the EU, in compliance with GDPR.