All posts tagged "compensation"
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958AML / 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 -
542Australia & 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 -
1.3KAustralia & 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 -
1.2KChinaChina’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 -
471ChinaCSRC 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 -
544China
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 -
788ChinaCSRC Imposes Underwriting Restrictions on GF Securities
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.
July 13, 2020 -
914Capital RegulationS. Korea Advances OTC Derivatives Reforms
Cabinet-approved legislative revisions will introduce an OTC derivatives reporting requirement, a licensing system for trade repositories, and penalties for circumventing margin rules.
July 3, 2020 -
465Australia & NZAustralia: Banks Work Towards Swift Resolution of Advice Failures
Larger than required remediation payments could be fast-tracked for all clients by forgoing the years of work needed to locate advice files and calculate individual payments.
June 22, 2020 -
476Australia & NZNew Zealand FMA Files High Court Proceedings Against ANZ
ANZ issued over 300 duplicate credit card repayment insurance policies, charging double premiums for no additional cover, and failed to cancel policies for over 400 ineligible customers.
June 8, 2020
