Citi is not under investigation, though AUSTRAC has criticised the bank for not providing sufficient information about the payments and the source of funds.
December 4, 2019Citi’s UK failings led to “significant errors” in the firms’ returns, preventing the Prudential Regulation Authority from obtaining an accurate picture of its capital or liquidity position.
November 28, 2019The addition of Toronto Dominion to the list brings the overall number of G-SIBs from 29 to 30. Deutsche Bank was moved to a lower bucket within the list.
November 23, 2019Effective immediately, foreign financial institutions can establish wholly-owned banks in China, which can be operated alongside foreign bank branches and Sino-foreign joint venture banks.
October 17, 2019The new market-oriented mechanism for calculating the Loan Prime Rate is expected to lower the cost of borrowing nationwide.
August 19, 2019The class action, estimated to be worth more than $1.2bn for trades executed in the UK, follows a similar-size fine levied against the banks by the European Commission in May.
July 31, 2019The government accuses the banks of forming a criminal cartel to either “directly or indirectly” restrict the supply of ANZ shares or maintain the price of ANZ shares.
July 12, 2019ASIC plans to take "significant enforcement action" against 11 lenders that inappropriately sold consumer credit insurance, and force remediation of over A$100m.
July 12, 2019Premier Li Keqiang said at the World Economic Forum in Dalian that foreign ownership limits in the financial sector will end in 2020, ahead of schedule.
July 3, 2019SGX wants to reduce its reliance on equity index derivatives by aggressively pushing into the FX markets over the next five years.
June 12, 2019