All posts tagged "Internal controls"
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324Capital RegulationRBI Urges Better Risk Monitoring, Faster NPA Resolution at State Banks
RBI governor Shaktikanta Das asked state-owned banks to speed up bad debt recovery efforts, strengthen internal controls and risk monitoring, and help fix the ongoing NBFC liquidity crisis.
July 23, 2019 -
313EnforcementUS SEC Penalises Nomura for Mis-sold Mortgage Backed Securities
Nomura Securities International has agreed to repay approximately $25mn to affected customers and $1.5mn in SEC fines to settle the charges.
July 17, 2019 -
392EnforcementSFC Fines Hong Kong Brokerage for Ineffective Short Selling Controls
Glory Sun Securities has been fined HK$1.2m for failing to ensure compliance with short selling requirements. Two responsible officers and an account executive have also been suspended.
July 16, 2019 -
739Enforcement
SFC 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 -
512Enforcement
Hong Kong SFC Releases 2018-19 Annual Report
The SFC is working to introduce an investor identification regime for southbound Stock Connect trading in mid-2019, and considering adopting a market-wide circuit breaker mechanism.
June 24, 2019 -
768Hong Kong
SFC Directs Prime Brokers on Regulatory Obligations
If prime services are carried out in Hong Kong, prime brokers are expected to comply with Hong Kong rules and regulations regardless of where the risk positions are booked.
June 11, 2019 -
399EnforcementS. Korea: Nine Securities Firms, KSD Face Disciplinary Action
The Korea Securities Depository and nine brokerages are facing penalties for inadequate internal controls over their offshore equities trading
June 11, 2019 -
677EnforcementUPDATED – Citigroup Japan Fined, Ordered to Improve Internal Controls
Having failed to detect after hours spoofing by a London trader, Citigroup Global Markets Japan has been fined, ordered to improve its controls, and suspended from participating in JGB auctions.
June 10, 2019 -
460Hong Kong
SFC Asks Licensed Firms to Review Controls on Third-Party Deposits
Senior management will be held accountable for failures to put in place effective policies, procedures and controls for handling third-party deposits and payments.
June 4, 2019 -
546EnforcementSFC 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
