All posts tagged "compensation"
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369AML / KYCChina Issues New Rules to Protect from Foreign Sanctions
Global businesses that comply with sanctions deemed illegal by MOFCOM can be sued for compensation in Chinese courts.
January 11, 2021 -
138Capital RegulationKorea FSS Directs Kakao Bank to Enhance Risk Management
Kakao Bank is directed to set up an effective emergency plan for responding to a crisis, including detailed financing options to deal potential capital shortfalls.
December 22, 2020 -
247ChinaCBIRC Penalises Bank of China Over April Crude Oil Losses
Bank of China was fined over 50mn yuan and ordered to correct deficiencies, strengthen compliance awareness and improve risk management.
December 7, 2020 -
100Australia & NZASIC Files Court Proceedings Against CBA for Overcharged Interest
The overcharging of interest in overdraft accounts was caused by a systems error, which CBA tried to fix manually. ASIC says the bank broke the law over 12,000 times.
December 2, 2020 -
1.3KAML / KYCJapan FSA to Mandate Stricter ID Checks for E-payments
The FSA plans to revise its guidelines for bank transfers to e-payment service providers in response to a series of fraudulent withdrawals.
October 21, 2020 -
639Australia & NZFederal Court Imposes A$57.5m Penalty Against NAB Units
NULIS Nominees and MLC Nominees admitted to misleading or deceptive conduct, false or misleading representations, and breaches of the ASIC Act and Corporations Act.
September 14, 2020 -
1.4KAustralia & NZ
ASIC: Financial Advice-related Compensation Tops A$1bn
NAB accounts for about two-thirds of the total number of customers that received or were offered compensation as a result of fees-for-no-service misconduct or non-compliant advice.
August 25, 2020 -
1.4KChinaChina’s P2P Crackdown Leaves Just 29 Operators in Business
Savers who invested in the thousands of now-defunct P2P platforms over the last several years have not yet managed to recover their funds.
August 18, 2020 -
528ChinaCSRC Optimises Rules on Administrative Reconciliation
The revisions will help to ensure investors are compensated for losses in a timely manner and market order is restored as soon as possible, the CSRC says.
August 14, 2020 -
581China
Chinese Financial Regulators Vow Crackdown on Fraud
The FSDC set out measures to speed up investigations and criminal prosecutions, increase penalties and civil compensation, and improve stock market delisting mechanisms.
July 15, 2020
