All posts tagged "Client Money"
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473Australia & NZAustralia: Pershing Pleads Guilty to Breaching Client Money Rules
Pershing Securities Australia, a BNY Mellon subsidiary, is the first company in Australia to face criminal prosecution for breaching client money provisions.
May 7, 2020 -
1.0KFintech / RegtechFSA Japan to Enforce New Crypto Laws from May
Changes to two pieces of legislation will ensure better investor protection, and bring custodians, ICOs, STOs and crypto derivatives under the FSA's remit.
April 8, 2020 -
392Australia & NZAustralia: SocGen Securities Unit Charged for Client Money Rule Breaches
Societe Generale Securities Australia self-reported three matters over 2017 and 2018, and has completed all remediation actions in relation to its operational set-up.
March 19, 2020 -
487EnforcementTaiwan FSC Penalises Taichung Commercial Bank for Lax Controls
The bank and its insurance unit were fined for lax controls on entertainment spending and for awarding bonuses to sales staff who hadn't sold any products, among other failures.
January 13, 2020 -
319ChinaPBOC Reverses No Interest Policy for Payments Companies – Report
The PBOC will pay just 0.35% annually on customer money that payments firms hold with the central bank, but the move marks a reversal of an earlier decision to pay no interest.
January 10, 2020 -
1.0KEnforcementSFC Fines Celestial Commodities for Mishandling Client Money
Celestial Commodities Limited may have been using client money to pay commission rebates for up to 20 years for the sake of operational convenience.
July 10, 2019 -
831EnforcementSFC Fines China Merchants Securities for Mishandling Client Money
China Merchants Securities has received a second fine this week, this time for using funds from client trust accounts for purposes not allowed under the SFC's Client Money Rules.
May 31, 2019 -
1.3KAustralia & NZRegulatory Winds Reshaping Australian Retail Trading
Whether offering OTC derivatives, forex or cryptocurrency, retail trading platforms must put client interests front and centre, says OANDA’s Anthony Griffin.
November 27, 2018 -
1.1KEnforcementTaipei Fubon Bank Fined as Two Officers Misappropriate Client Funds
The FSC has fined the bank $129,000 for internal control failures that allowed two of its officers to misappropriate client funds, and ordered it to dismiss the officers responsible.
October 30, 2018 -
509EnforcementMAS Bars Former UOB Officer for 12 Years
The ex-UOB employee, without a capital markets services licence, had setup a company to invest on behalf of other investors, and later misappropriated SG$520,000 entrusted to him by clients.
August 31, 2018
